FINANCE

Exxon expects gas, oil prices to rise quarterly earnings to 1.5 1.5 billion


Reuters file photo: A logo of Exxon Mobil Corporation is seen at the Rio Oil and Gas Expo and conference in Rio de Janeiro, Brazil.

HOUSTON (Reuters) – Exxon Mobil Corp. hinted Thursday that higher oil and gas prices would boost third-quarter earnings by দ্বিতীয় 1.5 billion in the second quarter.

Oil prices have risen 52% this year and prices in the United States have more than doubled as demand has recovered and economies have re-emerged from the Kovid-1 pandemic epidemic.

U.S. oil producers, which reported third-quarter results on Oct. 2, said changes in low-flow refining margins could add $ 500 million to $ 700 million in the quarter.

Chemical margins, on the other hand, could cut operating profits between $ 200 million and $ 400 million, the company said in a securities filing.

Exxon (NYSE 🙂 is cutting costs and retrenching staff after a historic loss last year. The recent rebalancing of oil and gas prices has helped the company sink this year.

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