17:18 - 16.10.2026

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October 16, Fineko/abc.az. US energy giant ExxonMobil signaled on Friday that higher refining margins in the third quarter could boost its downstream profits by $4.5 billion compared to the previous quarter.

The surge in refining margins follows supply disruptions linked to the conflict with Iran around the Strait of Hormuz and attacks on Russian refineries. The resulting rise in fuel prices creates political hurdles for US President Donald Trump’s administration ahead of the November midterm elections.

Key highlights from Exxon's filing include:

• Upstream earnings face a $1.3 billion drop due to a 5.6% decline in average Brent crude prices.
• Asset divestments are expected to contribute a $700 million boost to earnings.
• Full third-quarter financial results will be released on October 30.