Exxon signals fourth quarterly profit in a row on higher prices

The largest U.S. oil producer issued a snapshot of final quarter results that showed it expects sequentially higher operating profit in its upstream businesses, but potentially flat to lower operating profits in downstream and chemicals. Official results are due out Feb. 1.

HOUSTON: Exxon Mobil Corp on Thursday signaled a return to annual profit for 2021 as stronger oil and gas prices drove as much as $1.9 billion in operating gains in the fourth quarter.

The largest U.S. oil producer issued a snapshot of final quarter results that showed it expects sequentially higher operating profit in its upstream businesses, but potentially flat to lower operating profits in downstream and chemicals. Official results are due out Feb. 1.