00:09 Speaker A
Time now for what to watch on Friday, October 30th.
00:12 Speaker A
Three oil giants preparing to report quarterly earnings as the war in Iran continues to shake up global energy markets.
00:20 Speaker A
Starting off on Exxon Mobil, analysts expecting stronger refining margins to boost Exxon’s third quarter results.
00:27 Speaker A
The toil and gas production business could face a roughly $1 billion hit as prices ease from the previous quarter.
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Also reporting on Friday, Chevron.
00:37 Speaker A
Companies also expected to see weaker profits from oil and gas production as output slips and prices moderate.
00:44 Speaker A
Analysts expecting production of nearly 4 million barrels per day with maintenance and geopolitical tensions slowing output.
00:52 Speaker A
But stronger US refining margins could help offset some of that weakness.
00:56 Speaker A
And finally BP.
00:58 Speaker A
Analysts expecting a significant jump in third quarter earnings, but it’s largely thanks to a surge in refined margins amid energy market disruptions tied to the Iran war.
01:07 Speaker A
Stronger gas trading is also expected to help offset weaker oil prices at the British energy giant.
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
