Oil prices were little changed on Thursday as investors weighed firm winter fuel demand expectations against large U.S. fuel inventories and macroeconomic concerns.

Oil futures ticked higher early Thursday, steadying after setting back the previous session following data that showed a rise in product inventories that offset a fall in crude supplies.

Exxon Mobil has warned that lower oil prices and a squeeze on refinery margins will hurt its fourth-quarter earnings. Exxon Mobil Corp.’s stock fell 1.4% Wednesday, after the oil giant said lower oil prices and pressure on refining margins would weigh on fourth-quarter earnings.

ExxonMobil said it expects to take an up to $900 million hit to its upstream earnings in the fourth quarter versus the previous three months amid falling oil prices.

The change in gas prices, however, may boost earnings by as much as $400 million for the quarter, the company said..