Oil giants lost billions as pandemic crushed fuel demand – Houston Chronicle
NEW YORK (AP) – Two U.S. oil giants lost more than $ 9 billion in the second quarter as the pandemic kept households locked up, cutting a gaping hole in a once thriving business as the world’s oil needs dwindled.
Exxon lost $ 1.1 billion in the second quarter, and the Irving, Texas-based oil producer generated $ 32.6 billion in revenue, less than half of what it earned. reported at the same…