Chevron posts largest quarterly loss since 2001 on weak oil prices

Chevron Corp, the second largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income. While the adjusted results beat Wall Street expectations, they highlighted the deep uncertainty facing the energy industry at a time when depressed commodity prices have eroded profitability. Chevron, as one of the oil industry's leaders, is normally seen as a bellwether of sorts, and the large loss could portend ongoing d