ExxonMobil posted its biggest quarterly profit in more than a year, beating past analyst estimates. This was driven by higher oil prices and record profits in the chemicals business.

Positive results after the SLOTXO board's argument about the direction of the company. It stressed that oil producers are taking advantage of the oil price recovery to reduce debt and increase payouts to shareholders rather than spending more to increase production.

The positive momentum continued during the second quarter of our entire business. Due to the global economic recovery, demand for our products has increased,” said Chief Executive Officer Darren Woods.

Exxon said 2021 capital expenditures are expected to be at the bottom of the previous $16 billion to $19 billion range.Peter McNally, Third Bridge Group, said: “Exxon Mobil continues to march on major oil companies with rapidly improving earnings.

recovering from the terrible COVID crisis in the second quarter of last year.Exxon once again used its higher cash flow to settle huge debts it created to maintain shareholder dividends amid historic losses.