Exxon Mobil Is Falling After Reporting Reduced Production
Advertisement
REUTERS/Jessica Rinaldi
Advertisement
The Irving, Texas-based oil giant said Q2 output fell 5.7% to 3.84 million barrels of oil equivalent, short of the 3.96 million forecast.
Exxon reported earnings of $2.05 a share, topping consensus expectations for $1.86 and a prior reading of $1.55. Revenue increased to $111.65 billion, also beating forecasts for $108.38 billion.
The company has said it did not yet see an impact from new Russia sanctions. The Dallas-based firm recently extended its partnership with Rosneft.
Shares were down as much as 1.5%.
Advertisement
Advertisement
- Welcome to the white-collar recession
- Singapore Airlines was ordered to pay a couple compensation for 'mental agony' after they complained their business-class seats didn't automatically recline
- A 101-year-old woman keeps getting mistaken for a baby on flights and says it's because American Airlines' booking system can't handle her age
- “Wish to follow in the footsteps of PM Modi!” ‘Anupamaa’ star Rupali Ganguly joins BJP
- “Wish to follow in the footsteps of PM Modi!” ‘Anupamaa’ star Rupali Ganguly joins BJP
- Assassin’s Creed Mirage on iPhone 15: Killer game to debut on Pro and iPad on June 6
- 5 worst cooking oils for your health
- From fiber to protein: 10 health benefits of including lentils in your diet