SAN RAMON, Calif. (AP) -- Chevron Corp. said Tuesday that higher crude oil prices would push its fourth-quarter results higher than those in the third quarter, when it earned $3.8 billion.
Chevron didn't provide an estimate of fourth-quarter earnings. It earned $1.87 per share in the third quarter. Chevron is scheduled to report fourth-quarter results on Jan. 28. Analysts expect the company to report adjusted earnings of $4.35 billion, or $2.30 per share, according to a survey by FactSet.
The company based in San Ramon said U.S. production of petroleum liquids and natural gas in October and November was 5,000 barrels a day higher than in the third quarter, and international production was 26,000 barrels higher due to completion of maintenance jobs in Europe.
Refining margins declined slightly compared with the third quarter, except on the Gulf Coast.
Shares in Chevron rose $1.42 to $91.83 in regular trading before the update. In extended trading, they unchanged.
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