CHEVRON'S REFINING ARM OUTRUNS ITS OIL WELLS

Chevron posted third-quarter adjusted earnings of $5.28 per share, beating the $4.93 estimate, as downstream refining and marketing profit hit $4.9 billion on strong fuel margins. Upstream earnings, the unit that pumps oil and gas, came in at $5.7 billion, falling short of the $6.19 billion Wall Street expected. Total revenue reached $67.8 billion versus a $62.55 billion forecast. $CVX shares reflect a quarter where the downstream business carried the result.