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ExxonMobil posts quarterly loss of nearly $1.1 billion

ExxonMobil posts quarterly loss of nearly $1.1 billion

With the oil and natural gas industry being hammered by the COVID-19 pandemic, ExxonMobil reported its biggest ever quarterly loss of nearly $1.1 billion. Oil prices have registered a historic plunge following a dip in demand due to the pandemic. The company had earlier reported a loss of $610 million during the first three months of the year. This was also its first quarterly loss since 1999.

Chris
Chris
Top in Business