Refining lifts ExxonMobil and Chevron’s third-quarter earnings
🛢️ ExxonMobil and Chevron reported adjusted earnings of around $17.5 billion and $10.4 billion, respectively, beating forecasts. Downstream operations contributed significantly to both companies’ results.
🏭 ExxonMobil’s Energy Products segment generated roughly $9.05 billion in adjusted earnings, exceeding upstream. U.S. refineries running near full capacity helped capture strong refining margins.
🌐 Disruptions in the Middle East and at refining facilities tightened fuel supplies. Plants that remained operational benefited from wider spreads between fuel prices and crude costs.
⚖️ These results reflect an advantage during supply shortages, but do not guarantee lasting profitability. Refining margins could narrow as capacity returns or geopolitical tensions ease.
#EnergyMarkets $CL $BZ $NATGAS
🛢️ ExxonMobil and Chevron reported adjusted earnings of around $17.5 billion and $10.4 billion, respectively, beating forecasts. Downstream operations contributed significantly to both companies’ results.
🏭 ExxonMobil’s Energy Products segment generated roughly $9.05 billion in adjusted earnings, exceeding upstream. U.S. refineries running near full capacity helped capture strong refining margins.
🌐 Disruptions in the Middle East and at refining facilities tightened fuel supplies. Plants that remained operational benefited from wider spreads between fuel prices and crude costs.
⚖️ These results reflect an advantage during supply shortages, but do not guarantee lasting profitability. Refining margins could narrow as capacity returns or geopolitical tensions ease.
#EnergyMarkets $CL $BZ $NATGAS
