Exxon Mobil reports $680 mn 3Q loss on low oil prices

New York (AFP) – ExxonMobil reported another large quarterly loss Friday caused by a plunge in oil prices amid the pandemic downturn, that has prompted petroleum giants to slash spending and jobs.The US oil producer lost $680 million in the third quarter, a dramatic reversal from the $3.2 billion profit in the same period of 2019. It was ExxonMobil’s third straight quarter of red ink, and came a day after the company announced it was cutting 1,900 US jobs amid a grim outlook due to the Covid-19 impact on demand.The loss in the latest three months was smaller than in the prior quarter when oil …

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