Will Upstream Business Aid ExxonMobil’s (XOM) Q2 Earnings?

Exxon Mobil Corporation XOM is geared up to release second-quarter 2021 results on Jul 30, before the opening bell. Since the integrated energy player has significant exposure to upstream business, the considerable improvement in oil price is likely to have aided the quarterly performance.

Upstream Business

ExxonMobil’s upstream businesses fall under core operations. This segment covers the company’s activities related to exploring, and developing of oil and natural gas resources. From upstream operations, within and outside the United Sates, the energy giant reported a profit of roughly $2.6 billion in the March quarter of this year.

Upstream Performance in Q1

Non-U.S. Operation: During first-quarter 2021, ExxonMobil reported earnings of $2.2 billion from upstream activities outside the United States. This marked an improvement from the year-earlier comparable quarter profit of $1.2 billion owing to higher prices and lower expenses.

U.S Operation: From…

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