Chevron's Resilient Business Positions It to Thrive at Lower Oil Prices
Oil prices have slumped this year. Brent, the global oil benchmark, has fallen nearly 15% already this year and was recently in the low $60s. Several factors have weighed on crude oil prices, including OPEC's decision to increase its production at a time when global demand growth is slowing because of tariffs. Lower oil prices will affect most oil stocks. However, some companies are in a better position to weather lower oil prices than others. Chevron (NYSE: CVX) is one of those companies. Its resilient portfolio and fortress balance sheet position it to thrive even if oil prices remain low over the next few years. Image source: Getty Images.Continue reading
Oil prices have slumped this year. Brent, the global oil benchmark, has fallen nearly 15% already this year and was recently in the low $60s. Several factors have weighed on crude oil prices, including OPEC's decision to increase its production at a time when global demand growth is slowing because of tariffs.
Lower oil prices will affect most oil stocks. However, some companies are in a better position to weather lower oil prices than others. Chevron (NYSE: CVX) is one of those companies. Its resilient portfolio and fortress balance sheet position it to thrive even if oil prices remain low over the next few years.
Image source: Getty Images.
