Overview

• ExxonMobil projects second-quarter earnings will decline by $1.5 billion to $1.9 billion because of weaker oil and gas prices
• The company anticipates refining margin gains of about $300 million will partially offset the commodity-driven earnings drop
• Its earnings outlook is based solely on current market prices and does not account for operational performance or production changes
• Higher U.S. output and increased OPEC+ supply have helped push oil futures down roughly 8% and natural gas prices down about 10% this year
• Full Q2 results are scheduled for release on August 1 when ExxonMobil will confirm its finalized earnings figures