US oil giants report big losses, prepare for longer downturn

NEW YORK - Exxon Mobil and Chevron reported hefty losses in the latest quarter Friday as the weakened economic outlook due to the coronavirus pandemic pressures the industry to double down on cost cuts.

US oil giants report big losses, prepare for longer downturn
NEW YORK - Exxon Mobil and Chevron reported hefty losses in the latest quarter Friday as the weakened economic outlook due to the coronavirus pandemic pressures the industry to double down on cost cuts.