ExxonMobil's profit drops despite increase in production

An increase in production caused the US oil major to book a better result than expected. And yet, ExxonMobil's bottom line result dropped one-fifth compared to last year.

Lee Celano / Reuters / Ritzau Scanpix
Photo: Lee Celano / Reuters / Ritzau Scanpix

Like many of the competing oil and gas companies, ExxonMobil's result declined in the second quarter of 2019, reveals the company's interim financial report published Friday.

The US-based company otherwise managed to boost production by 7 percent compared to the same period last year. From April and three months on, the company produced 3.9 million barrels of oil equivalent a day. This level is close to expectations, as the analysts' consensus was that production would reach 3.8 million barrels of oil equivalent daily.

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