Exxon Mobil reported quarterly earnings that narrowly beat expectations on higher oil prices and asset sales of $1 billion. However, its shares dropped 2 per cent as its oil and gas production fell short of estimates.

Exxon, the world’s largest publicly-traded oil company, said fourth-quarter production dropped 9 per cent. It posted fourth-quarter net income of $9.4 billion, or $1.97 per share, compared with $9.25 billion, or $1.85 per share, in the period a year ago. – (Reuters)