Exxon Mobil Corporation (XOM) in Irving, Tex., engages in the exploration and production of crude oil and natural gas in the United States and globally. The company operates through the broad segments of Upstream; Downstream; and Chemical. It also manufactures, trades, transports, and sells crude oil, natural gas, and petrochemicals. In comparison, Chevron Corporation (CVX) in San Ramon, Calif., operates integrated energy, chemicals, and petroleum operations worldwide. The company operates through two broad segments: Upstream, involved in the exploration, development, and production of crude oil and natural gas; and Downstream, engaged in the refining and crude oil and petroleum products.
Oil prices are again on the rise on Tuesday, recouping some of the losses they incurred in the previous session. Brent crude rose 1.3% to $113.89 per barrel, while the United States West Texas Intermediate (WTI) crude surged 0.9% to $106.91 per barrel. The oil benchmarks are rising due to continued disruption to Kazakhstan’s supplies, and other producers are exhibiting no rush to increase supply.
