Chevron profits jump on strong oil price

Reuters

NEW YORK (Reuters) - Chevron Corp , the second-largest U.S. oil company, reported a jump in quarterly profits on Friday as high oil prices and stronger refinery margins offset lower oil output.

Second-quarter profit rose to $7.7 billion, or $3.85 per share, from $5.4 billion, or $2.70 per share, a year earlier.

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(Reporting by Matt Daily, additional reporting by Braden Reddall in San Francisco)

Revenue rose 30 percent to $69 billion.

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