The EIA reported that US crude oil inventories fell by 2.7 MMbbls (million barrels) to 509.1 MMbbls on June 9–16, 2017.
Crude oil prices hit a ten-month low on June 21, 2017. Lower oil prices have a negative impact on oil and gas exploration and production companies.
At 7:30 AM EST on June 22, West Texas Intermediate crude oil futures contracts for August 2017 delivery were trading at $42.78 per barrel—a gain of ~0.59%.
ExxonMobil sells 62% of its petrochemical products in international markets.
ExxonMobil’s trading volumes accounted for ~20% of its sales volumes in 1Q17.
The US is the largest market for XOM, accounting for 40% of total refined products sold.
ExxonMobil (XOM) produced 4.2 MMboed (million barrels of oil equivalent per day) in 1Q17 from its worldwide operations.
In 1Q17, ExxonMobil (XOM) sold 5.4 MMbpd (or million barrels per day) of refined products, a 1% rise over 1Q16.
In 1Q17, ExxonMobil (XOM) generated around $8.2 billion in cash from operations, a whopping 70% rise over 1Q16.
In 1Q17, ExxonMobil’s upstream earnings swung to profits of $2.3 billion in 1Q17 from a loss in 1Q16.
ExxonMobil (XOM) has steadily provided returns to shareholders in the form of dividends.
ExxonMobil’s (XOM) net-debt-to-adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) ratio stood at 1.5x in 1Q17.
ExxonMobil (XOM) plans to concentrate on an integrated earnings model to capture value at every stage of the energy chain.
Eight analysts have assigned the stock a “buy” or “strong buy” rating, 13 have assigned a “hold” rating, and six have assigned a “sell” or “strong sell” rating.
In this series, we’ll look at ExxonMobil’s (XOM) financial and operational performance by reviewing its capex details, analyst ratings, dividend outflows, earning model dynamics, and upstream and downstream operational performance.
On June 20, 2017, Brent crude oil (BNO) active futures were trading $2.79 higher than WTI (West Texas Intermediate) crude oil (UCO) (OIIL) (USL) active futures.
According to EIA (U.S. Energy Information Administration) data released on June 14, 2017, US crude oil inventories fell 1.7 MMbbls (million barrels) in the week ended June 9, 2017.
On June 20, 2017, US crude oil (DBO) (OIIL) August 2018 futures settled at a premium of $2.57 to August 2017 futures.
In the week ended June 16, 2017, the US oil rig count was 747, its highest level since the week ended April 17, 2015.
On June 20, 2017, US crude oil August futures fell 2.1% and settled at $43.51 per barrel. On the same day, US crude oil July futures settled at $43.23 per barrel, their lowest closing price in 2017.