May 1, 2020 / 10:56 AM / a month ago

Chevron cuts 2020 spending plans again as quarterly revenue declines

May 1 (Reuters) - Chevron Corp on Friday lowered its capital expenditure forecast for 2020 by another $2 billion as its first-quarter revenue took a big hit from the crash in oil prices.

Its total revenue and other income fell more than 10% to $31.50 billion in the three months ended March 31.

The second largest oil producer in the United States cut its spending budget to $14 billion, on top of the $4 billion it slashed after the oil crash began in March. (Reporting by Shariq Khan in Bengaluru; Editing by Arun Koyyur)

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