https://www.msn.com/en-us/money/markets/what-s-going-on-with-exxon-mobil-shares-today
Story by Anusuya Lahiri • 1h ago
Exxon Mobil Corp (NASDAQ: XOM) shares gained Monday as Goldman Sachs Group, Inc (NYSE: GS) reiterated its forecast for Brent prices at $95 by December 2023 and $100 for April 2024 despite the sharp declines in oil prices lately. The firm predicts that supply deficits will likely surge in the second half of the year. The current selloff was driven mainly by recessionary fears about demand, the U.S. banking crisis, and reports about increased oil production in Russia, Iran, and other OPEC nations. Further increases in emerging market demand, along with OPEC cuts, will result in oil supply shortfalls in the second half of the year, according to Goldman Sachs. Last week reports suggested Exxon Mobil is not giving up on oil exploration in Brazil because of its good rocks, good commercial terms, stable fiscals, and technological advancement.
Price Action: XOM shares traded higher by 0.86% at $109.61 on the last check Monday. Photo via Wikimedia Commons
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