Earnings reports from some of the largest U.S. oil companies, Exxon and Chevron, reflect what top executives said Friday were persistent industry challenges. “While the operating environment remains challenging, the company continues to focus on capturing efficiencies, advancing strategic investments, and creating long-term shareholder value,” Exxon Chairman and CEO Rex Tillerson said in a statement. The company reported third quarter net income of $2.65 billion, against $4.24 billion during the same period last year. Production was down 3 percent to 3.8 million barrels of oil equivalent per day. It’s the fourth consecutive quarter for a downtown for the world’s largest publicly traded oil company. First quarter earnings of $1.8 billion were the weakest in more than a decade. Crude oil prices have been steady at around […]