Refining Cheap Oil Rescues Exxon, Chevron From Crude Pain

The cheapest crude in 2 1/2 years has the world's two biggest oil producers glad they held onto their refineries when rivals were shunning the business. Exxon Mobil Corp. and Chevron Corp. surprised investors and analysts today with higher profits as slumping crude prices made it cheaper to manufacture gasoline, diesel and jet fuel.

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