Chevron is optimistic about quarterly earnings.

Chevron Chairman George Keller said earnings for the first quarter ended March 30 will be higher than the collapse in oil prices would suggest because of the sale of assets and certain advantageous oil-buying arrangements. But Keller said that there will be “serious pressure on dividends” and that the company might cut its current 60-cent dividend if oil prices continue to deteriorate. However, he said there is “better than a 50-50 chance” that crude oil prices will reach at least $20 a barrel by the end of the year.