Despite a generally tough year for oil stocks, ExxonMobil and Chevron are showing resilience against market volatility, bolstered by rising crude oil futures and favorable geopolitical factors.
Crude oil futures have begun to stabilize following two days of decline, largely due to geopolitical events that are impacting supply levels significantly.
Exxon and Chevron are sticking to their core oil and gas strategy while getting bigger in some of the best assets globally. The near-term outlook for oil and gas feels soft, especially with OPEC poised to move more barrels onto the market.