May 2, 2014 / 12:40 PM / 4 years ago

Chevron profit drops 27 percent on lower oil production

May 2 (Reuters) - Chevron Corp, the second-largest U.S. oil producer, said on Friday its first-quarter profit fell 27 percent due to falling crude oil production and prices.

The company posted net income of $4.51 billion, or $2.36 per share, compared with $6.18 billion, or $3.18 per share, in the year-ago quarter. (Reporting by Ernest Scheyder)

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