(AOF) – Exxon Mobil will publish its third quarter results on October 28. But the American oil giant has already reported on Tuesday, October 4, an operating profit in the third quarter, which should approach the – already – very good results recorded by the group in the second quarter. The American oil group Exxon Mobil had then exceeded analysts’ forecasts in terms of results. Its net profit had literally jumped, rising in one year from 4.69 billion dollars to 17.85 billion dollars.
Total revenue and other income also amounted to $115.68 billion from $67.74 billion a year earlier. Like the other oil groups, Exxon Mobil benefited from a very favorable environment in terms of prices. In the third quarter, it is also its good performance in natural gas that should make the difference and bring the group’s profits to a new high point.
AOF – LEARN MORE
Growing global demand
The IEA (International Energy Agency) estimates that global demand should stand at 99.4 Mb/d (million barrels per day) for 2022, a level slightly revised upwards due to stronger growth. stronger than expected in March and April. However, this remains 1 Mb/d below 2019 levels. From 2023 the IEA forecasts that global oil demand should exceed pre-Covid pandemic levels, driven by Chinese demand. The latter has been strongly affected by the serious disruptions linked to Covid-19 this year. Next year, the rebound in Chinese demand will more than offset a slowdown in OECD countries. In the medium term, the strong recovery in air traffic is supporting oil demand, with an increasingly evident dynamic in air travel in Europe and North America, underlines the IEA.