Exxon Mobil Corporation (NYSE:XOM) has announced that falling global crude oil prices could reduce its upstream earnings by up to $1.2 billion in the fourth quarter of 2025 compared to the previous quarter. The company made this statement on January 7, noting that Brent crude futures dropped 19% in 2025, marking a third consecutive year of losses, while WTI crude prices fell nearly 20% year-over-year. According to LSEG data, Wall Street analysts now anticipate Exxon to report adjusted earnings of $1.66 per share for Q4, down from $1.88 per share in the prior quarter.
Exxon Mobil is among the companies that left Venezuela after former President Hugo Chávez nationalized the oil industry in 2007. The South American country currently owes Exxon approximately $2 billion in arbitration claims. U.S. Energy Secretary Chris Wright has stated that while these claims should be paid, they are not an immediate priority.
Recently, President Trump invited Exxon Mobil to invest again in Venezuela to help revive its oil industry. However, the company remains cautious, with CEO Darren Woods describing Venezuela as 'uninvestable' without substantial changes to its commercial frameworks, legal system, and hydrocarbon laws. These comments reportedly annoyed President Trump, who later indicated he might exclude Exxon from drilling opportunities in Venezuela.