Reported 2 months ago
Exxon Mobil reported a robust $9.2 billion profit for the second quarter of 2024, driven by rising oil prices and increased production from its recent acquisition of Pioneer Natural Resources. This profit, translating to $2.14 per share, exceeded analysts' expectations despite a drop in refining earnings. CEO Darren Woods expressed confidence in sustained high oil demand, prompting the company to raise its 2024 output target by 13% to 4.3 million barrels per day. Despite the overall market decline, Exxon's shares saw a slight uptick in early trading.
Source: YAHOO