In the first quarter, Exxon Mobil's upstream profit surged by 63%, while the risk exposure in the Middle East weighed down cash flow.

Oil giant Exxon Mobil's latest financial report shows that in the first quarter, the company's revenue reached $85.14 billion, a year-on-year increase of 2.4%; GAAP net profit was $4.18 billion, a year-on-year decrease of 45.8%; adjusted earnings were $4.9 billion, exceeding market expectations. This is its first complete quarterly report since the outbreak of the Middle East conflict. The financial report shows that the company's upstream business profits increased by 63% quarter-on-quarter, mainly benefiting from a 50% increase in Brent oil prices and increased production from assets in the Permian Basin and Guyana. However, Exxon Mobil's about 20% of oil and gas production comes from Middle Eastern partners, making it the most exposed to Middle East risks among major oil companies. Due to supply interruptions, losses of undelivered goods, and losses from hedging trades, its adjusted profits fell to a five-year low, and free cash flow declined significantly.