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Exxon Mobil profit halves on weak oil prices, chemicals business

Exxon Mobil profit halves on weak oil prices, chemicals business
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo -
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Sergio Moraes(Reuters)
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(Reuters) – Exxon Mobil Corp’s <XOM.N> third-quarter profit nearly halved, mainly hit by lower oil prices and weakness in its chemicals business.

The largest U.S. oil producer’s earnings fell to $3.17 billion (£2.45 billion), or 75 cents per share, in the quarter, from $6.24 billion, or $1.46 per share, a year earlier.(http://bit.ly/2WxMI0q)

Exxon’s oil equivalent production rose about 3% to 3.89 million barrels per day.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

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