PREVIEW: Chevron shares up ahead of earnings, production outlook eyed

** Energy giant Chevron Corp's CVX.N shares are up ~1% ahead of its quarterly earnings due before the open on Fri

** Wall Street analysts expect CVX to report rev of $48 bln, down ~1% from a year ago, and ~25% drop in EPS to $2.18

** CVX's rev has met expectations 6 times over the last 8 quarters, while EPS has beat estimates 5 times

** Investors will be watching out for how CVX's production will be impacted by Venezuela's state oil company PDVS' reported cancellation of authorizations to load and export oil following President Donald Trump's tariffs on Venezuela's oil buyers

** Among the 25 analysts that cover CVX, avg rating is "BUY" and median PT is $173

** CVX is down ~5% YTD vs ~4% drop in S&P 500 energy index .SPNY