What’s the Outlook for ExxonMobil’s Segments?
Before we proceed with the 1Q18 segmental outlook, let’s look at ExxonMobil’s (XOM) 4Q17 segmental performance. ExxonMobil’s (XOM) adjusted upstream earnings increased from $1,493 million in 4Q16 to $2,518 million in 4Q17. The rise in upstream earnings was due to a surge in crude oil prices in 4Q17 over 4Q16. Brent prices, which averaged $50 per barrel in 4Q16, increased to $61 per barrel in 4Q17.