06 Oct, 23

Exxon Mobil’s Q3 Earnings To Get $2.1 Billion Boost From Oil Price Surge

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U.S. oil and gas supermajor Exxon Mobil Corp. (NYSE:XOM) is likely to post a good earnings report after disclosing it received a $2.1 billion boost to third quarter earnings from higher oil prices and robust refining margins, only partially offset by a fall in profits by its chemicals segment. According to the company,  rising crude prices contributed to a gain of ~ $1.1 billion over the previous quarter, while refining profits increased by ~$1 billion, the company revealed in a filing on Wednesday. Meanwhile, an …

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