Exxon Mobil Corp.’s stock fell 0.5% early Wednesday, after the oil giant said lower oil prices and pressure on refining margins would weigh on fourth-quarter earnings. Oil prices measured by the U.S.

ExxonMobil's results, scheduled for release on Jan. 31, will serve as a bellwether for the oil industry, offering insights into the broader challenges faced by energy majors. In the third quarter, ExxonMobil posted $8.6 billion in earnings, but the current forecast signals a stark contrast as the company navigates a tough operating environment.

Exxon Mobil Corp.’s shares fell after the company warned its fourth-quarter earnings will take a hit from lower crude prices and narrowing refining margins during the final three months of 2024.

Exxon Mobil shares fell nearly 2% in early trading on Wednesday after the top U.S. oil producer warned of a decline in refining profits in the fourth quarter and weak returns across its operations.

Exxon Mobil said on Tuesday changes in oil prices would ease its fourth-quarter upstream earnings by $500 million to $900 million. The industry bellwether had posted $6.16 billion in upstream earnings for the third quarter,

Exxon Mobil Corp. closed $17.59 short of its 52-week high ($126.34), which the company reached on October 7th.

Exxon Mobil profits will likely miss fourth-quarter-earnings estimates by close to 20%, one analyst argued as he trimmed his numbers. While Exxon Mobil expects changes in gas prices to improve earnings by up to $400 million,