Exxon faces $1.6 billion earnings drop from oil and refining margins


(Bloomberg) — ExxonMobil Corp. mentioned decrease oil costs and refining margins lowered third-quarter earnings by $1.6 billion in contrast with the earlier interval. 

The oil large revealed quarterly earnings steering in a regulatory submitting Thursday. 

The impacts of decrease oil costs and shrinking refining margins will probably be partly mitigated by positive factors of about $900 million from timing results and a discount in scheduled upkeep at refineries. Pure gasoline costs and chemical margins will trigger little change to earnings, the corporate mentioned. 





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