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Exxon delivers a record first-quarter profit on higher output
Exxon Mobil Corp on Friday reported a record first-quarter profit that was more than double from a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels. Oil companies are riding that wave of relatively higher oil and gas prices with earnings benefiting from strong demand and cost-cutting tied to efforts to counter COVID-19 lockdowns three years ago. "We delivered a first-quarter record despite the fact that energy prices and refining margins are softening a bit," Chief Financial Officer Kathryn Mikells said in an interview.