 "Exxon")
Exxon Mobil Corp on Friday reported a $1.1 billion second-quarter loss on sharply lower energy demand and prices from the Covid-19 pandemic, and confirmed plans to make deeper spending cuts.
It was Exxon's first back-to-back quarterly loss in at least 36 years, but was small in comparison to rivals who took giant charges last quarter. The top US oil producer took no asset write-downs during the quarter, and got a 44-cent-a-share boost to earnings by increasing the value of inventories.
Chevron Corp, Total, Royal Dutch Shell, and Eni each wrote down their oil and gas properties last quarter by several
