XOM Reports Profit: Higher Refining Margins; Earns $2.20; Forecast: $2.00; Huge For a Company The Size of XOM With Decreasing Production

This is at least the third company that has reported increased earnings due to better refining margins: XOM, MPC, PSX, or maybe it was Hess. I'm starting to forget. Bottom line: "relatively" inexpensive domestic oil is replacing "relatively" expensive foreign oil here in the states.

XOM reports 6% profit.

The world's largest publicly traded oil company, on Friday reported a higher-than-expected 6 percent increase in quarterly profit, helped by its chemical and refining businesses.

The Irving, Texas company said profit in the fourth quarter was $9.95 billion, or $2.20 per share, compared with $9.4 billion, or $1.97 per share, in the same period a year earlier.

Analysts on average expected a profit of $2.00 per share, according to Thomson Reuters I/B/E/S.

Oil and gas output fell 5.2 percent, Exxon said.

There are a lot of data points in that small story to talk about. Maybe later.