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ExxonMobil Is Cashing In on Higher Crude Oil Prices

TheMotleyFool

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ExxonMobil Is Cashing In on Higher Crude Oil Prices: https://g.foolcdn.com/editorial/images/752643/the-silhouette-of-some-people-pointing-to-an-oil-well.jpg

ExxonMobil (NYSE: XOM) earned an impressive $9.1 billion in the third quarter. That was up from $7.9 billion in the second quarter as the company feasted on higher oil prices. Meanwhile, cash flow was even higher at $16 billion, a whopping $6.6 billion increase from the last quarter.

As strong as the third quarter was, even better days could be ahead for the oil giant. Here's a closer look at the quarter and what's in store for ExxonMobil investors.

ExxonMobil expected that higher oil prices would boost its upstream earnings by more than $1 billion in the third quarter, which is what happened:

Source Fool.com

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