Friday, November 22, 2024

Crude Prices, Cost Cuts Drive Exxon Mobil's Profit

Posted by April 28, 2017

Exxon Mobil Corp, the world's largest publicly-traded oil producer, said on Friday its quarterly profit more than doubled due to rising crude prices and cost cuts.
 
The company posted net income of $4.01 billion, or 95 cents per share, compared to $1.81 billion, or 43 cents per share, in the year-ago quarter.
 

Production fell 4 percent to 4.2 million barrels of oil equivalent per day.


Reporting by Ernest Scheyder 

Related News