Key Takeaways Exxon Mobil Corp. said lower oil and gas prices will impact current quarter profit by up to $1.9 billion.The energy giant expects the earnings impact of the price drop in liquids would be between $800 million and $1.

Exxon Mobil Corp. expects lower oil and gas prices to reduce the company’s earnings by about $1.5 billion as a volatile quarter for commodity prices weighs on second-quarter profits.

Exxon Mobil signaled on Monday that lower oil and gas prices could cut its second-quarter earnings by about $1.5 billion from the previous quarter's level.