ExxonMobil expects stronger refining margins to boost third-quarter earnings
🛢️ In an October 16 update, ExxonMobil estimated that improved refining margins would add around USD 4.5 billion to third-quarter earnings versus the previous quarter. Supply disruptions through Hormuz and attacks on Russian refineries have supported fuel prices, particularly diesel.
⚖️ Meanwhile, lower crude prices are expected to reduce upstream earnings by around USD 1.3 billion, highlighting how refining gains can offset pressure on production within an integrated energy company.
📊 This update outlines earnings drivers rather than full quarterly results. Timing differences between derivatives and physical commodities could also weigh on reported earnings. Full results are scheduled for October 30.
#ExxonMobil $XOM
🛢️ In an October 16 update, ExxonMobil estimated that improved refining margins would add around USD 4.5 billion to third-quarter earnings versus the previous quarter. Supply disruptions through Hormuz and attacks on Russian refineries have supported fuel prices, particularly diesel.
⚖️ Meanwhile, lower crude prices are expected to reduce upstream earnings by around USD 1.3 billion, highlighting how refining gains can offset pressure on production within an integrated energy company.
📊 This update outlines earnings drivers rather than full quarterly results. Timing differences between derivatives and physical commodities could also weigh on reported earnings. Full results are scheduled for October 30.
#ExxonMobil $XOM