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How Is ExxonMobil’s Downstream Segment Holding On?

Michelle Rey
How Is ExxonMobil’s Downstream Segment Holding On?

ExxonMobil’s (XOM) Downstream segment is a savior for the company in a scenario of lower oil prices. In the second quarter, ExxonMobil’s refined product sales fell 1% YoY (year-over-year) to 5.5 MMbpd (million barrels per day) because of a 2.2% YoY fall in gasoline sales and a 3.7% YoY fall in heating oil, kerosene, and diesel sales. Usually, everything else being equal, lighter refined products such as gasoline yield more revenues than heavier ones.