Episode Details

Exxon Mobils first-quarter earnings, released on May 1st, reveal a rollercoaster ride for the oil giant. Crude prices soared, with Brent jumping from $61 to $118 per barrel, the largest quarterly increase since 1988. This surge typically boosts Exxons upstream operations. However, potential earnings gains from liquids and gas prices are offset by trading losses, inventory timing issues, and volume disruptions due to Middle East tensions. Exxons strong fourth quarter and full-year 2022 performance set a high bar, and investors eagerly await managements call to understand if these challenges persist into the second quarter.

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