ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of 2024, due to higher oil and gas prices and timing effects, the supermajor said in an SEC filing.
Oil prices in Q1 were lower than in the same period of 2024, but they were higher than in the fourth quarter of 2024. U.S. natural gas prices, on the other hand,…Exxon Sees Higher Prices and Refining Boosting Q1 Profit by Up to $2 Billion
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