US oil giants return to profitability in Q1 on higher oil prices

ExxonMobil reported income in the primary quarter after a string of losses in 2020

After a string of losses, ExxonMobil and Chevron on Friday each reported a return to profitability in the primary quarter, bolstered by a major soar in oil prices.

ExxonMobil, which reported losses in all 4 quarters in 2020, reported income of $2.7 billion in the primary quarter.

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