Exxon Mobil, the world’s largest publicly traded oil company, reported its lowest quarterly profits in nearly six years on Thursday as lower oil prices slashed earnings across the industry.

Despite the recent collapse in prices, Exxon earned $4.55 billion in the first quarter, down 58 percent from $10.89 billion in the period last year. Profit fell to 92 cents a share in the quarter, from $2.02 in the year-earlier period.

Exxon, whose operations stretch from Nigeria to Siberia, managed to wring out bigger profits than any of its rivals because of its size and its obsessive attention to controlling costs. These industry costs, which had doubled in the last few years, have been falling lately as companies cancel projects or delay investments.

Oil prices have fallen sharply in recent months as a global recession drastically slowed economic activity around the world. Crude oil futures contracts traded in New York have averaged about $43 in the first quarter of this year, compared with nearly $100 a barrel in the first quarter of 2008. On Thursday, oil settled at $51.12 a barrel, up 15 cents.