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Oil Prices Lift Chevron's Profits

Stock quotes in this article: CVX , XOM  

Chevron(CVX Quote) announced better-than-expected fourth-quarter earnings Friday as higher oil prices lifted its profits.

The petroleum giant says it made $2.32 a share in the last three months of 2007, up from $1.74 in the same period a year before. Wall Street analysts had been expecting an average of $2.26.

"Fourth-quarter earnings for our upstream business benefited from a significant increase in the price of crude oil," said CEO Dave O'Reilly in a prepared statement. ...

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