ExxonMobil's profit falls 58%; BP cites low oil prices in US$3.3b Q4 loss

Houston

OVER the last year, the biggest oil companies have shown the most resilience in the face of plunging oil prices. But now even the likes of ExxonMobil, BP and Chevron are beginning to lose their buoyancy.

The newest measure of the oil industry's falling fortunes came on Tuesday in the form of a US$3.3 billion fourth-quarter loss reported by BP. ExxonMobil, the US industry's largest player, reported a 58 per cent decline in its quarterly profit.