Exxon earnings up

Exxon Mobil earned $9.25 billion in the last three months of 2010, its most profitable quarter since the record third quarter of 2008.

The company said Monday that net income grew 53 percent in the fourth quarter as it produced more oil to take advantage of higher prices.

Global consumption of petroleum products increased during the quarter and oil prices rose 12 percent to an average of $85.14 per barrel.

Exxon joined Chevron and ConocoPhillips in reporting vastly improved results.

Associated Press