"The results reflect sharply lower commodity prices, weaker refining margins and continued strength in the Chemical segment," ExxonMobil stated.
The company noted that its production volumes remained unchanged at 4 million barrels per day.
ExxonMobil stressed that chemical profits remained "strong," reaching $1.2 billion. However, the overall earnings results in the first half of 2016 were worse than a year ago.
"Earnings of $3.5 billion decreased 62 percent from $9.1 billion in 2015," the statement said.
Global oil prices plunged from $115 to less than $30 per barrel between June 2014 and January 2016, hitting their lowest levels since 2003 amid the ongoing glut in global oil supply, and causing significant problems for energy companies and oil-producing countries.
Oil benchmark prices went down again on Friday due to the ongoing oversupply, with oil trading at slightly over $40 a barrel.
