Shutdowns Caused Production Drop Last Quarter, Chevron Says

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Chevron, the second-largest U.S. oil company, said Wednesday its oil and gas production declined last quarter, mainly because of various shutdowns and maintenance work in Kazakhstan, Australia and Nigeria.

In its interim update for the second quarter, Chevron said its average U.S. oil-equivalent production of oil and gas from wells fell to 659,000 barrels a day in April and May from an average 664,000 for the first quarter.

Worldwide, the company produced 2.57 million barrels per day in the first two months of the quarter, down from 2.65 million in the first quarter.