Exxon Mobil reports $610 mn loss on hit from low oil prices

Exxon Mobil reported a loss Friday of $610 million in the first quarter as it moved to cut spending in the wake of crashing commodity prices due to the coronavirus crisis.


Photo: AP

The oil giant reduced capital spending by 30 percent to around $23 billion for 2020 and will trim operating expenses by 15 percent, said the company, which maintained its dividend earlier this week.