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Chevron profit down 4.5 pct. on lower oil prices

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NEW YORK (AP) — Chevron Corp.'s net income fell 4.5 percent in the first quarter as oil prices fell and refinery output declined. Chevron, the second largest U.S. oil company, has delivered better profit margins than the other energy majors in recent years because a big part of its production mix is oil, which has been fetching high prices. Rivals, like Exxon Mobil, produce more natural gas in...

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