XOM Exxon Mobil Corp

By Ben Glickman

Exxon Mobil expects higher gas prices to boost its earnings in the next fiscal quarter.

The oil and gas giant said in a regulatory filing Wednesday that it expects higher liquids prices to add $900 million to $1.3 billion to the profit from its Upstream division when compared with the previous fiscal quarter.

Higher gas prices, meanwhile, are expected to add $200 million to $600 million to Upstream earnings.

Exxon said changes in industry margins would slightly boost its energy products earnings, but changes in unsettled derivatives would have a negative impact on the division.

Tighter margins in its chemical products and specialty products businesses are expected to reduce profit in those segments.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

October 04, 2023 17:18 ET (21:18 GMT)

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