Exxon (XOM) Shows Upstream Growth

Exxon (NYSE: XOM) is faced with good as well as bad news. According to CNBC’s Bob Pisani, Exxon’s oil production has shown positive growth. Keeping in view that analysts have pointed out the 6 to 8 percent a year decrease in oil production, the increase in oil production is a major achievement.

However, after being kicked out of Russia and Venezuela, the oil producing firm now has fewer places to go to. The company is also struggling with overcapacity in oil refining segment. In 2009, Exxon saw a major decline in its margin. The company also lost money in oil refining business in Q4.