Replies to post #21470 on The Rising Influence of Rising Affluence

[DewDiligence]

CVX borrows a page from Shell—cut costs—maintain dividend:

https://finance.yahoo.com/news/chevron-announces-actions-response-market-104500735.html

• Reduces 2020 capital spending plan by $4 billion, or 20%

• Permian production guidance reduced by 20%

• Suspends share repurchases

• Actions protect the dividend, prioritize long-term value, and support industry leading balance sheet

Chevron’s PR, which was issued Tuesday morning, has a lot in common with the one issued by Shell on Monday (#msg-154513970).

Investors like it! CVX was +28% cumulatively on Tue/Wed.