I'm Not Selling ExxonMobil, Even With Oil Prices Where They Are
The surge in oil prices this year has boosted the energy giant's earnings. Here's why investors should continue to stay the course with the oil and gas stock.
Overview
The ongoing conflict in Iran has sent oil prices soaring, and ExxonMobil (NYSE: XOM) stock has surged. Since the start of the year, the oil and gas stock has gained 33%.
Amid ongoing geopolitical uncertainty, Brent Crude still trades near $90 per barrel. Despite the elevated oil prices and the prospect of a ceasefire, I wouldn't sell ExxonMobil stock. Here's why.
Details
ExxonMobil, with its massive integrated oil and gas business, has done quite well amid elevated oil and fuel prices. In the second quarter, Exxon's production (excluding the Middle East) reached its highest level in two decades, at 4.1 million barrels of oil equivalent per day.
Source
Originally published at www.fool.com.
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