Major oil companies suffer billion-dollar setback: 'Toughest year since the pandemic'

Major oil companies suffer billion-dollar setback: 'Toughest year since the pandemic'

Two of the largest petroleum companies in America have seen their quarterly profits take a major hit in recent months. Chevron and Exxon Mobil have long been considered heavyweights in the oil industry. However, through the first quarter of 2025, each company has seen a dramatic drop-off in reported earnings.  According to a Chevron press release, the company reported first-quarter earnings of $3.5 billion. That is a significant decline compared…