Oil rout erodes 2nd-quarter profits for U.S. majors Exxon, Chevron

By Ernest Scheyder HOUSTON (Reuters) - Chevron Corp posted its worst quarterly loss since 2001 on Friday and Exxon Mobil Corp reported a 59 percent slide in profit, as the long crude price rout and tumbling refining income inflicted pain across the energy sector. "The key is to manage the cash flow as best they can and continue to execute on projects, which they do appear to be doing." Exxon, the world's largest publicly traded oil producer, shocked Wall Street as its quarterly profit missed exp