Exxon Mobil warns lower oil, gas prices could cut – Business News
Exxon Mobil signaled on Monday that lower oil and gas prices could cut its second-quarter earnings by about $1.5 billion from the earlier quarter’s stage.
The earnings snapshot from the most important US oil producer is intently watched for clues on how the broader oil sector will fare when firms start releasing quarterly ends in a few weeks.
Benchmark Brent crude prices averaged $66.71 per barrel during the April to June quarter, an 11% decline from the earlier quarter, as more crude provide from the OPEC+ group of producers weighed on prices. US natural gas prices declined 9% from the primary quarter.
Benchmark Brent crude prices averaged $66.71 per barrel during the April to June quarter, an 11% decline from the earlier quarter. Exxon Mobil will release second quarter earnings on Aug. 1. Getty Images
Exxon stated within the regulatory submitting that it’ll release the ultimate quarterly outcomes on Aug. 1.
Wall Street expects Exxon to report adjusted earnings of $1.53 per share for the second quarter, based on estimates compiled by LSEG.
The company had posted $6.8 billion in upstream earnings for the primary quarter. Its complete revenue in that quarter was $7.71 billion.
