Exxon's Profit Dips by 35% in 2023, Settling at $36.01 Billion

Exxon Mobil's profits dropped by 35% in 2023 to $36.01 billion, revealing energy sector challenges. This prompts discussions on strategic adaptations in a dynamic global market.

The company based in Irving, Texas, generated $344.582 billion in revenue in 2023, a 17% decrease compared to 2022, according to figures released this Friday. This year, Exxon was affected by a more than 10% drop in crude oil prices, as doubts about China's demand grew, and the U.S. achieved record production levels. However, it slightly exceeded investors' expectations in the last quarter.