ExxonMobil expects downstream profit expansion driven by rising refining margins
XOM ExxonMobil Holdings Corp
$177.86 -0.24%
View chart & analysis → - 1ExxonMobil's downstream profit is expected to see a $4.5 billion increase in refining margins compared to the previous three months.
- 2BMO Capital Markets analyst Phillip Jungwirth said ExxonMobil's downstream segment adjusted net income is pointing toward $8.5 billion.
- 3From the second quarter, ExxonMobil's upstream segment profit is expected to decrease by $1.3 billion.
So what's the key point?
ExxonMobil's profits from refining and selling oil are expected to increase by about $4.5 billion. On the other hand, profits from the segment that extracts crude oil are expected to decrease by $1.3 billion.
Source TIKR · View original ↗
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