Exxon Mobil beat Wall Street estimates for second-quarter profit on Friday as higher oil and gas output and low production costs offset the impact of lower crude prices. The biggest U.S. oil producer made clear that it is ready to take advantage of lower oil prices and make acquisitions, but only if it is confident that it can create additional value. The energy sector has struggled with price volatility as the OPEC+ group increased its production, pushing global benchmark Brent crude prices down 11% in the quarter. Global tariffs levied by U.S. President Donald Trump added to price weakness because they raised the prospect of a weakening global economy with knock-on effects for oil demand. Exxon's oil and gas production was the highest for any second quarter since the merger of Exxon and Mobil formed the company more than 25 years ago, Exxon Mobil said.