ExxonMobil 2018 earnings pick up

US energy giant ExxonMobil reported 2018 earnings of $20.8 billion compared with $19.7 billion a year earlier.

Fourth quarter 2018 earnings were $6 billion compared with $8.4 billion in the prior-year quarter.

The company’s revenue jumped from $244.3 billion in 2017 to $290.2 billion, ExxonMobil said in a statement.

Oil-equivalent production was 3.8 million barrels per day, down from the 3.9 million boe during 2017.

ExxonMobil noted that crude prices weakened in the fourth quarter, while natural gas prices strengthened with higher LNG prices and increased seasonal demand.