Chevron expects its 2018 net production to grow by between 4 percent and 7 percent at oil prices at $60 a barrel, the U.S. oil supermajor said in its annual security analyst meeting on Tuesday. Last year, Chevron’s production was 2.73 million barrels of oil equivalent per day (boed), 5-percent growth over 2016, and this year and until 2020, Chevron believes it is “well-positioned to sustain this momentum.” Other highlights from Chevron’s strategy through 2020 include boosting production from the Permian, keeping the capital discipline, and expectations that it would resume its share buyback program. For this year, Chevron’s capital and exploratory budget is $18.3 billion, with 75 percent of the spending expected to deliver cash flow within 2 years. The annual capex guidance for 2019 and 2020 is between $18 billion and $20 billion. This year, Chevron expects cash generation at around $14 billion, with cash flow breakeven […]