NEW YORK (AP) – Exxon Mobil lost $680 million in the third quarter as travel was curtailed throughout the world in efforts to contain the coronavirus, diminishing the need for fuel. The Irving, Texas-based oil giant brought in $46.2 billion in revenue, down from $65.05 billion during the same quarter last year. Thursday, the company it will cut some 1,900 jobs at home and reduce the global headcount by around 15% over the next two years.The pandemic has taken a toll on the oil industry, which was already struggling with low prices and oversupply before the pandemic struck. San Ramon-based Chevron lost $207 million, down from earning $2.9 billion last year.
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