Exxon Mobil quarterly profit drops by $1.59 billion
Production fell about 3% to 3.8 million barrels of oil equivalent production per day
 ".Photo: Reuters")
Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas.<b>Photo: Reuters<b/>
Exxon Mobil Corp, the world's largest publicly traded oil company, said on Friday its quarterly profit fell by $1.59 billion due to declining crude prices and refining margins.
The company reported third-quarter net income of $2.65 billion, or 63 cents per share, compared with $4.24 billion, or $1.01 per share, a year earlier.
Production fell about 3% to 3.8 million barrels of oil equivalent production per day.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Oct 28 2016 | 5:45 PM IST