New York, May 1, 2026 (AFP) - ExxonMobil CEO sees chance of higher oil prices as earnings dip

NAMPA / AFP

2026-05-01

US oil giants reported lower earnings Friday with accounting effects muting the benefits of the Middle East oil shock, as ExxonMobil's CEO cautioned that crude prices could still increase. Oil prices jumped during the quarter from the mid-$60s in early February to more than $100 a barrel at times in March as Iran's almost complete shutdown of the Strait of Hormuz roiled global markets. While surging prices are ultimately expected to boost US oil......

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