Exxon, Chevron profits fall on low gas prices, weak margins

Exxon Mobil's profit slid more than 5% in the fourth quarter of 2019, as the oil giant dealt with low natural gas prices and weak margins in its chemical and retail fuel operations.

The country's largest oil producer posted $5.69 billion in profits, or $1.33 per share, for the quarter, which was lower than some analysts expected.

Chevron also had a tough quarter, posting a loss of $6.6 billion, or $3.51 per share. The company, based in San Ramon, California, reported $10.4 billion in impairments and writeoffs, mostly related to its natural gas operations.