Chevron's Decision To Reduce Near Term Capital Spending Makes Sense In Current Oil Price Environment

Chevron recently announced that it is revising its estimates for the company's capital and exploratory investment program for 2016. This follows a spate of other cost cutting decisions the company has taken in the wake of the extended period of low crude oil prices. Oil & Gas companies across the globe are choosing to curtail capital expenditures even though it might mean a loss of growth in future production. We believe that this is the right way forward for Chevron in the near term, and these ...