ExxonMobil Says Lower Oil Prices Will Hit Q4 Earnings

KEY TAKEAWAYSExxonMobil said it expects to take an up to a $900 million hit to its upstream earnings in the fourth quarter versus the previous three months amid falling oil prices.Lower liquids prices are set to bring down its upstream earnings by between$500 million to $900 million in the fourth quarter of 2024 compared with the third quarter.The forecasted earnings hit comes at a time when demand for oil is soft and there is an oversupply of the commodity. ExxonMobil (XOM) said it expects to take an up t ...