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Benzinga
  • 2 years ago
Exxon Mobil reported a third quarter profit of $9.1 billion, down from 54% in the same period last year. Global oil prices averaged $85.92/barrel in the third quarter, up from $77.73/barrel in the second quarter. Exxon's chemical business was hurt by higher raw material costs, dampening profits somewhat compared to strong oil/fuel prices. Exxon has acquired shale company Pioneer Natural Resources and carbon pipeline company Denbury this year as their share price traded near record highs.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:03 ExxonMobil reported a third-quarter profit of $9.1 billion, down from 54% in the same
00:07 period last year.
00:09 Global oil prices averaged $85.92 a barrel in the third quarter, up from $77.33 a barrel
00:14 in the second quarter.
00:16 Exxon's chemical business was hurt by higher raw material costs, dampening profits somewhat
00:19 compared to strong oil and fuel prices.
00:22 Exxon has acquired shale company Pioneer Natural Resources and carbon pipeline company Denberry
00:26 this year, as their share price traded near record highs.
00:29 For all things money, visit Benzinga.com.
00:31 (bubble popping)
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