ExxonMobil forecasts $4.5B rise in refining earnings

Exxon Mobil expects its refining profits to exceed $4.5 billion in the third quarter, driven by higher refining margins due to energy supply disruptions linked to the war with Iran and Ukrainian attacks on Russian refineries, which have led to increased fuel prices and political pressures on the U.S. administration. Forecasts indicate that refining sector earnings could double compared to the previous quarter, while exploration and production profits may decline by approximately $1.3 billion due to falling oil prices. The company plans to release its full results on October 30.

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