ExxonMobil earned $2.7 billion in the third quarter, down 38% from last year due in part to low commodity prices. Exxon Mobil Corp. reported Friday 3Q 2016 earnings of $2.7 billion, down 38 percent ($1.6 billion) from 3Q 2015. It’s been a tough year for the Irving, TX-based company. Like other oil and gas companies, low oil prices prompted the company to cut capital expenditures (CAPEX). In the first three quarters of 2016, ExxonMobil’s capital and exploration expenditures were $14.5 billion, down 39 percent from 2015. And in April, the company lost its triple A credit rating , something it’s held since the Great Depression. Not surprisingly, the oil company’s upstream earnings declined as well. ExxonMobil earned $620 million in 3Q 2016, down $738 million from 3Q 2015. And U.S. upstream earnings declined by $35 million from 3Q 2015. Still, ExxonMobil’s CEO Rex Tillerson believes the integrated structure of […]