Oil slump

Daily Freeman (Kingston, NY) - - BUSINESS -

Lower crude prices have been damp­en­ing earn­ings for many oil com­pa­nies, and Exxon Mo­bil is no ex­cep­tion.

The en­ergy gi­ant, due to re­port its third-quar­ter fi­nan­cial re­sults to­day, has de­liv­ered lower earn­ings and rev­enue through the first half of this year. In the sec­ond quar­ter, Exxon Mo­bil’s earn­ings slid to the low­est level in nearly 17 years. To cope, the com­pany has been cut­ting spend­ing on oil and gas ex­plo­ration.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.