EXXON PROFITS SLUMP 56% AND JOINS GLOBAL PEERS IN ENERGY PRICE HIT
- NEWS Desk Global
- Jul 28, 2023
- 1 min read
Exxon Mobil's <XOM.N> second-quarter profit dropped 56% and fell short of Wall Street expectations, the company said on Friday, joining rivals hurt by the sharp decline in energy prices and lower fuel margins. Profits for global oil majors have dropped by about half from a bumper 2022, when Russia's invasion of Ukraine sent oil and gas prices soaring.
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