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Exxon, Chevron post $887mn losses as pandemic pain remains

Exxon, Chevron post $887mn losses as pandemic pain remains

Exxon Mobil posted losses to the tune of $680mn in Q3 as pandemic curbed travel globally, cutting down demand for fuel. Revenue declined to $46.2bn, down from $65.05bn during the same quarter last year. The pandemic has hit the oil industry hard, which was already struggling with low prices and oversupply before the pandemic. The price of US crude has fallen 40% since beginning of the year.

Hannibal 0 months

And yet when prices rebound shareholders will be smiling all the way to the bank. We've been told for forty years renewable will kill fossil fuel. We're still waiting.

James 0 months

Ohhh poor poor babies after years of hundred billon dollar profits per quarter. I feel just terrible for them

Darin 0 months

A Biden/Harris victory will bring big oil to it's knees!

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