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ExxonMobil profit drops 23% despite record Q2 upstream output

Margins slump, gas prices dive, and California setback dull Exxon’s record output glow

Rueben Hale
Exxon records record production amid skinning margins

Exxon records record production amid skinning margins | Credits: Shutterstock

ExxonMobil has posted its highest second-quarter upstream production in more than 25 years, but profits slumped 23% to $7.1 billion as weak refining margins, lower natural gas prices and a US$2.4 billion...

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