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Companies & Markets

Exxon Mobil profit more than doubles on cost cuts, oil price rise

Published Fri, Apr 28, 2017 · 03:19 PM
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[HOUSTON] Exxon Mobil Corp, the world's largest publicly-traded oil producer, said on Friday its quarterly profit more than doubled due to rising crude prices and cost cuts.

The company posted net income of US$4.01 billion, or 95 cents per share, compared to US$1.81 billion, or 43 cents per share, in the year-ago quarter.

Production fell 4 percent to 4.2 million barrels of oil equivalent per day.

REUTERS

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