Will Recent News Hurt Exxon Mobil?
T = Trends for a Stock’s Movement
Exxon Mobil is a manufacturer and marketer of commodity petrochemicals like olefins, aromatics, polyethylene, and polypropylene plastics, as well as a range of specialty products. The company has a number of divisions and affiliates with names that include ExxonMobil, Exxon, Esso, and Mobil, which operate or market products in the United States and other countries. Exxon Mobil’s principal business is energy, involving the exploration for and production of crude oil and natural gas; manufacture of petroleum products; and transportation and sale of crude oil, natural gas, and petroleum products.
Exxon Mobil Corp., the world’s largest publicly traded oil company by market value, posted lower-than-expected quarterly profit on Thursday as it failed to offset declining production with fresh reserves. Shares of Exxon fell nearly 2 percent to $93.28 in morning trading. The problem of declining production has become endemic for multinational energy groups, with legacy oil and natural gas wells producing much less. That has fueled massive and risky exploration projects in an attempt to find new wells in remote regions. Exxon’s oil and natural gas production fell 1.8 percent from year-ago levels, with natural gas production falling around the world and oil output slipping in half the regions where the company operates.