Exxon Mobil Corp on Friday pledged to revive its long-dormant share repurchase program next year, bolstered by a jump in profit and improved cash flow in the third quarter as rising global economic activity has caused fossil fuel demand to surge. The higher profit follows several years of lackluster returns and heavy spending at Exxon, and as agitated shareholders this year voted to put three new directors on the company’s board due to dissatisfaction with its direction. read more Exxon’s announcement that it will resume share buybacks returns it to the strategy it pursued for more than a decade, as it was once the largest U.S. corporate repurchase of shares before suspending the practice in 2016. “The upside surprise was the buyback program, no one was expecting it this soon,” said equity analyst Paul Sankey at Sankey Research. The nation’s largest oil and gas […]