Key Takeaways ExxonMobil and Chevron reported much lower second-quarter profits as the price of oil slumped.Adjusted earnings for both oil giants beat estimates, but Chevron missed revenue forecasts.Chevron's results were impacted by a loss in the fair market price of shares of Hess,

Exxon Mobil’s second-quarter profit dropped to the lowest level in four years and sales fell as oil prices slumped as OPEC+ ramped up production.The Texas oil driller still topped Wall Street profit expectations Friday and shares rose slightly before the opening bell,

Top U.S. oil producers Exxon Mobil and Chevron are expected to report their lowest earnings in four years when they release second-quarter results on Friday, as weaker oil and gas prices slashed revenue.