Jan 7 (Reuters) – U.S. oil major Exxon Mobil said in a regulatory filing on Wednesday changes in crude oil prices could lower its fourth-quarter upstream earnings by about $800 million to $1.2 billion.
Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks.
Brent crude futures shed about 19% in 2025, the most substantial annual percentage decline since 2020 and its third straight year of losses, the longest such streak on record. U.S. West Texas Intermediate crude logged an annual decline of almost 20%.
The company had posted $5.7 billion in upstream earnings for the third quarter.
(Reporting by Pooja Menon in Bengaluru; Editing by Shailesh Kuber and Shilpi Majumdar)
