ExxonMobil earnings plummet 63% on plunging oil prices

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ExxonMobil reported Friday that first-quarter earnings dived 63 percent to $1.8 billion due to plunging oil prices.

ExxonMobil’s upstream division, usually a cash cow that explores for and produces petroleum, suffered a $76 million loss. That was partially offset by higher earnings in the oil giant’s chemical division.

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