ExxonMobil’s second-quarter profits are expected to steeply increase making it one of the strongest quarters in the US oil producer’s history, according to Wall Street analysts.
The information was revealed in a recent Reuters report which stated that, based on projections, Exxon can see its first-quarter earnings double.
Last Friday, Exxon signalled that it could generate a record quarterly profit owing to the skyrocketing margins from fuel and crude sales. The information was contained in its security filings. The disclosures indicated an operating profit of about US$16.8 billion. The official results are due on July 29.
