Reported 29 days ago
ExxonMobil's shares fell by 3.1% due to a drop in crude oil prices after OPEC downgraded its global oil demand forecast for 2024. This decline in demand sentiment, combined with ExxonMobil's reported exit from a stake purchase in a significant oil discovery in Namibia, has raised concerns about the company's earnings and cash flows. Despite these challenges, analysts suggest that investors should maintain their positions in the stock, citing its strong dividend history.
Source: YAHOO