Exxon Mobil expects profit to fall in Q1

-US oil major Exxon Mobil expects first-quarter earnings to be lower than in the fourth quarter of last year, mainly due to lower oil and gas prices and the devaluation of derivative instruments.

The company pointed out that the contribution of upstream business profits may be reduced by up to $1 billion due to the decline in oil and gas prices, and outstanding derivative transactions may have a negative impact of $1.3 billion on profits.

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