Exxon Delivers Record 1st-Quarter Profit on Higher Output

Exxon Delivers Record 1st-Quarter Profit on Higher Output
A view of the Exxon Mobil refinery in Baytown, Texas, on Sept. 15, 2008. Jessica Rinaldi/Reuters
Reuters
Updated:
0:00

HOUSTON—Exxon Mobil Corp. on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels.

Oil companies are riding a wave of strong demand and cost-cutting tied to efforts to counter COVID-19 lockdowns three years ago.