Can Exxon Mobil Continue Its Buyback Program?

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Oct. 31 (Bloomberg) -- Exxon Mobil lifted production for the first time in more than two years as net income slumped 18 percent on dwindling refining returns. Alix Steel reports on Bloomberg Television's "Money Moves." (Source: Bloomberg)

Bloomberg.

We will shift now to take a look at commodities.

Exxon mobil going strong.

Earnings out this morning that were solid.

Revenues and earnings exceeding analyst estimates but reduction costs rose.

Alix steel looking into more detail.

Year on year unit income was down the.

Best -- that was dealing with weaker refining markets.

Production is essentially flat.

You mentioned production increased 1.5% and should increase next year.

Overall the industry looking at higher cost and not enough output.

A company of this size makes billions of dollars from sales.

The good news is if they wind up being able to increase production, and they should have one million barrels per day more in 2017, that will help offset the weaker cash costs.

They're not reaping $96 per barrel and it is important to keep that in mind when you see the volatility.

What does this do to exxon?

It could be good for the stock rise in theory.

You wind up getting a flight to quality.

On the flipside, they are not making as much money per barrel.

This actually equates to an earning loss of $9 billion.

Definitely has a material impact on the bottom line.

Joining me on the nitty-

This text has been automatically generated. It may not be 100% accurate.

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