Exxon Profit Falls on Oil Glut

Exxon Mobil's earnings fell short of estimates, marking a seventh consecutive year of decline. Production also missed targets, contributing to a 2% drop in premarket trading. The company faces challenges similar to Shell and BP, struggling with lower commodity prices and weaker refining margins. Despite being a major player, Exxon is cutting capital expenditures by $5.2 billion. The video discusses the need for cost-cutting and the difficulty of maintaining production levels, highlighting the challenges in Exxon's business model going forward.

What was Exxon's earnings per share compared to the estimate?

• $0.70 compared to $0.50

• $0.50 compared to $0.70

• $0.64 compared to $0.41

• $0.41 compared to $0.64

How many consecutive years has Exxon experienced a year-on-year decline?

• Five years

• Three years

• Seven years

• Ten years

What was the estimated production of oil equivalent for Exxon?

• 3.5 million barrels

• 4.5 million barrels

• 4.1 million barrels

• 3.95 million barrels

Which companies are mentioned as having similar challenges to Exxon?

• Shell and BP

• Chevron and Total

• Petrobras and Gazprom

• ConocoPhillips and Eni

What is one of the strategies Exxon is using to address its challenges?

• Cutting costs

• Expanding production rapidly

• Acquiring smaller companies

• Increasing capital expenditure