Chevron reported net income that surged nearly 200% to $9.9 billion, compared with $3.5 billion a year earlier. Adjusted earnings reached $5.28 per share, above analysts’ expectations of $4.89, while revenue totaled $67.8 billion. The company’s U.S. refineries processed a record volume of crude oil, at just over one million barrels per day, while operating at 98% capacity. Diesel and jet fuel yields rose more than 10%, and refining profits surged more than 300% to $4.9 billion. Oil and gas production profits also increased about 70% to $5.7 billion, despite a slight decline in output.
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