Exxon Misses Profit Forecast Despite Strong Refining Business

Record refinery throughput and higher oil prices raised ExxonMobil’s (NYSE: XOM) earnings for the third quarter compared to the second quarter, but the profit missed Wall Street expectations anyway. Exxon reported on Friday earnings of $9.1 billion for the third quarter, compared with second-quarter earnings of $7.9 billion. The higher quarter-on-quarter profit was the result of strong operating performance, including record third-quarter refining throughput, as well as a higher crude price and industry refining margins. These factors were…