01-30-2015, 03:17 PM
CVX earnings dropped 30% ($3.5 billion vs $4.9 billion)compared to last year's fourth quarter. Keep in mind that this was for Oct-Dec, when the average oil price for that quarter was roughly 70 dollars a barrel. How far will their 2015 first quarter earnings fall if the average oil price in this quarter is 40-50 dollars a barrel?