Chevron adjusted profit misses expectations

A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/FilesMoreBy Ernest Scheyder
HOUSTON (Reuters) – Oil and gas producer Chevron Corp on Friday posted an adjusted profit that fell short of Wall Street’s expectations, as its cost cuts failed to fully offset low crude prices and weak refining margins.
Like many of its peers, Chevron slashed spending during the quarter in response to low crude prices , but the reductions were