Higher oil prices boost ExxonMobil profits

ExxonMobil scored higher profits due to increased oil prices amid the economic recoveryNEW YORK - ExxonMobil reported better-than-expected quarterly profits on higher commodity prices, pointing to rising energy demand amid the economic recovery from COVID-19.

"Positive momentum continued during the second quarter across all of our businesses as the global economic recovery increased demand for our product," said Chief Executive Darren Woods.ExxonMobil scored higher profits across its exploration and production business, with significantly higher oil prices more than offsetting lower production. Chemical profits also surged during the period on strong demand and pricing.

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