Why is Exxon mobile an example of vertical integration?

ExxonMobil is an example of vertical integration because it operates across multiple stages of the oil and gas supply chain, from exploration and production to refining, distribution, and retail. This integration allows the company to control various aspects of its operations, reduce costs, increase efficiency, and enhance its market position. By managing both upstream and downstream activities, ExxonMobil can better respond to market fluctuations and optimize its profitability.