Exxon and Chevron Earnings Drop on Lower Oil Prices But US Operations Cushion the Blow

Earnings for Exxon and Chevron dropped substantially from last year due to lower oil and gas prices.

Both companies' stocks fell after earnings reports, but Chevron shares dropped more than Exxon's.

Profits increased for both companies from the previous quarter as oil prices and fuel production rose.

Earnings from international operations lagged behind US output for Exxon and Chevron.

The companies' recent acquisition announcements highlight their focus on boosting US production.