Exxon To Resume Share Buybacks After Surge In Q3 Earnings

ExxonMobil (NYSE: XOM) will start next year share repurchases of up to $10 billion after its quarterly profit surged to multi-year highs on the back of improved global energy demand and the oil and gas price rally. The U.S. supermajor reported on Friday earnings of $6.8 billion, or $1.57 per share assuming dilution, for the third quarter of 2021, compared to a loss of $680 million, or a $0.15 per-share loss, for the same quarter of 2020. Higher oil and gas prices, improved refining margins, and strong demand in chemicals helped Exxon book earnings…