Is Exxon Mobil doing God's work? Ahead of the Pope Francis's encyclical on global warming, Exxon CEO Rex Tillerson is trying to explain the good the global energy production does for the global economy and the human race at large.
Even with the recent rebound in the price of crude oil, don't look for production cuts to stop. Oil is breaking out as it is clear that crash in oil prices significantly changed the fundamentals and the future production growth curve.
Exxon Mobil Corp reported a smaller-than-expected drop in quarterly profit on Thursday as oil and gas output and refining results grew even as lower crude prices ate into earnings at the world's largest publicly traded oil company.
U.S. stocks were set to open little changed on Wednesday, with traders eyeing a $70 billion mega-deal in the energy space and ahead of minutes from the most recent meeting of the Federal Reserve's policy-setting committee.
Royal Dutch Shell agreed to buy smaller rival BG Group for 47 billion pounds ($70.2 billion) in the first major energy industry merger in more than a decade, closing the gap on market leader U.S. ExxonMobil after a plunge in prices.
U.S. stock-index futures fell, after the Standard & Poor’s 500 Index rose to a record Tuesday, as data showed a drop in housing starts and wholesale prices before the release of minutes from the last Federal Reserve meeting.