Exxon Mobil profit drops on weaker gas prices, higher costs By Reuters

© Reuters. FILE PHOTO: Logos of ExxonMobil are seen in its booth at Gastech, the world’s biggest expo for the gas industry, in Chiba

(Reuters) – Exxon Mobil Corp (N:) reported a 21% drop in quarterly profit on Friday, hit by weaker prices and higher maintenance costs.

The largest U.S. oil producer’s net income fell to $3.13 billion, or 73 cents per share in the second quarter, from $3.95 billion, or 92 cents per share, last year.

Exxon’s oil equivalent production rose 7% to 3.9 million barrels per day.

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2019-08-02

By: Staff Writer

On: August 2, 2019

In: Hot Stock News

Tagged: costs, drops, Exxon, Gas, higher, Mobil, prices, profit, Reuters, Weaker

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