Thread regarding ExxonMobil Corp. layoffs

Look to 2014 as a good lesson in oil price history. US production rises. Saudi decides to take back market share. Once the market understood that supply was significantly exceeding demand - this takes time as data is laggy - the market dropped like a rock from over $100 to $30. Why? Prices in the prompt have to be low enough to cover the cost of storing that crude oil to a time when it is anticipated that demand will exceed supply again and inventories decline. $50 as one poster says? If the Saudis continue pumping and DJT doesn’t bring real sanctions on Russia or Iran, we are going real low on price and it will last a while. My opinion is that Saudi will keep pumping until after the 2028 elections. Buckle up.

Exxon forced to buy the 2026 version of XTO or Pioneer
Thinking Mewborne or Diamondback..For reserves and production upflift

We just need oil to remain low so the above companies hemorrhage a little and then we can swoop in and buy them cheap…Please keep on the DL

Producing +100 Million bopd consistently is a very difficult endeavor. XOM capitalized on Guyana and the Permian for a well balanced and diversified portfolio.

XOM didn’t fall victim (as much as bp, Shell, Total) to woke nonsense. They doubled down on their expertise and operational capabilities.

Lots of perceived or manufactured headwinds ahead in the economy and oil industry in general. Every technical journalist is parroting the 56-61 oil price paradigm. Yet the market demands +100 Million bopd…

Have all companies made the right investment to fulfill market requirements? Nope.
So expect some market chaos in the near term. Maybe even something that radically effects mobility and our perceived sense of safety and security….

headed to 50s

Nowadays companies cut jobs even when demand and profits are surging.

The market is a guide (sorta) but I wouldn’t plan my career based on it.