ExxonMobil Down 5.5% Amid Middle East Disruptions

ExxonMobil shares fell 5.5% in pre‑market trading after disclosing Q1 2026 production disruptions in Qatar and the UAE.
Disruptions expected to cut global oil‑equivalent output ~6% in Q1 vs Q4 2025, impacting 20% of Exxon’s production.
Damage to two Qatar LNG trains (≈3% of 2025 upstream) and 5% refining capacity could cut Energy Products throughput ~2% in Q1.
Earnings hit $0.6‑$0.8 bn from missed hedges and $3.5‑$4.9 bn timing loss, yet EPS should beat Q4 2025 levels excluding timing.