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Exxon Eyes Global Trading Expansion as Commodity Profits Soar

  • Company first made trading push in 2018 but pullled back
  • Oil majors have reported record profits as oil prices surged
Aerial Views Of The Esso Oil Refinery Operated By Exxon Mobil Corp

Photographer: Simon Dawson/Bloomberg

Exxon Mobil Corp. is considering expanding its trading operations globally as historic oil-market volatility contributes to record profits for commodity shops.

The oil major has stepped up efforts to increase derivatives trading after several departures over the past two years, according to people familiar with the matter. Exxon is also reworking the pay structure for traders, including bonuses, said some of the people, who asked not to be named because the information isn’t public. The company is still ironing out specifics and nothing is final, the people said.