Chevron reaffirms strategies at annual analyst meeting

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron (CVX -0.6%) reaffirms its strategies and long-term growth outlook at its annual analyst meeting, but cuts its 2017 production forecast to 3.1M boe/day from earlier guidance of 3.3M boe/day.

Expects increasing worldwide energy demand to prompt "significant" production growth over the rest of the decade: "This compelling growth profile, combined with flattening capital spending levels these next few years, should serve as a strong catalyst for value creation for our shareholders in the years ahead," CEO John Watson says.

Sees $10B in asset divestment proceeds from 2014-16.