Reported 1 day ago
Exxon Mobil Corp. has announced that its earnings in the last quarter of 2024 were adversely affected by reduced crude oil prices, which resulted in an estimated loss of $700 million in its production division. Additionally, refining margins worsened, contributing another $500 million decline in profits. Despite a boost from natural gas prices, the overall situation reflects significant challenges for the oil giant amid concerns regarding the Chinese economy and excess global crude supply.
Source: YAHOO