The benefits of American Oil Giants, Exxon Mobil and Chevron

The benefit of the first quarter of Exxon Mobil was reduced to the lower level for years, chopped by the weakest prices and the highest costs.

The oil and gas giant won $ 7.71 billion, or $ 1.76 per action, during the three months that ended on March 31. Gained $ 8.22 billion, or $ 2.06 per action during the previous period.

The results exceeded Wall Street expectations, but Exxon does not adjust the reported results based on unique events, such as asset sales. Analysts responded by Zacks Investment Research wait for $ 1.74 earnings per action.

Income amounted to $ 83.13 million, which reduced $ 84.15 million that analysts requested.

Chevron also registered its lowest profits in the first quarter in years, with a adjusted benefit for $ 2.18 per revenue of $ 47.61 million. Similar to Exxon, Chevron does not adjust the reported results based on unique events such as asset sales. Analysts predicted $ 2.15 earnings per revenue action of $ 48.66 million.

The last time the benefits of the first quarter were so low for Exxon was in 2022 and for Chevron, in 2021.

This week, a U.S. benchmark barrel fell below $ 60, a level that many producers can no longer have a profit.

“In this uncertain market, our shareholders can rely on knowing that we are built for it,” said President and CEO Darren Woods in a statement on Friday. “The work we have done to transform our company for the last eight years puts us to excel in any environment.”

The United States Benchmark Crus have dropped by 18% this year and Brent, the international reference point, is also right. This week, BP and Shell also brought benefits from the first quarter.

Oil prices Fell last month, at a time when it sank at a minimum of four years in anticipation of curbing economic growth due to an incapacity War of trade.

The U.S. raw and Brent again fell more than 1%on Friday. A U.S. crude barrel now costs $ 58.30, down almost 30% compared to this time last year.

Trump announced rates of great reach To almost all of the United States commercial members on April 2 and then turned a few days after a thawing market, suspending the It matters taxes For 90 days. In the midst of uncertainty for both consumers and North -American companies, the Department of Commerce said on Wednesday that the United States economy reduced 0.3% from January to MarchThe first fall in three years.

Steel rates and other materials, which are used for everything, from tools to drilling and storage, can have a reduced impact on oil companies and amplify the harmful effect of the fall in oil and gas prices.

Those who fall oil prices indicate pessimism about economic growth and can be a recession as manufacturers reduce production, companies reduce travel costs and families rethink holiday plans.

And it seems that there is little hunger to deactivate the spikes for some of the largest producers in the world.

In December, eight members of the Opec+ The alliance of exporting oil countries indicated that they would not reduce production as they would compete with the production of non -allied oil producing countries.

The members of the OPEC+ decided at that time the increase in production that had been scheduled to enter into force on January 1. The plan had been gradually restoring 2.2 million daily barrels throughout 2025.

This process was retreated on April 1 and production increases will occur gradually for 18 months until October 2026.

Exxon Mobil, Chevron and BP actions fell after the opening bell, while Shell got up.