Reported 1 day ago
Analysts have downgraded their fourth-quarter earnings estimates for Exxon Mobil after the company warned of reduced prices and margins impacting results. Shares fell 1.4% in response to the news, with predictions of a profit drop to approximately $1.75 billion lower than the previous quarter. This reflects challenges faced by oil producers due to lower global demand for gasoline and diesel following a post-pandemic peak, negatively affecting refining margins and causing significant financial adjustments across the company.
Source: YAHOO