Exxon Mobil’s Strategy: Be a Lean, Mean Cash Machine

Crude oil and natural gas prices are at multiyear highs, but oil-major executives can’t exactly rest easy these days—especially not those at Exxon Mobil.

Thanks to increasing energy prices, oil producers hit a financial gusher last quarter. Exxon’s cash flow from operations in the third quarter was $12.1 billion, the highest since the third quarter of 2014, when Brent crude oil was trading closer to $100 a barrel. Its peer Chevron reported $8.6 billion of cash flow from operations and record free cash flow on Friday.