Exxon Mobil Corporation saw its stock price hover near $150 during Monday's session, closing at $149.20 with a modest 0.1% gain. Chevron also advanced, rising 0.7% as both energy giants tracked movements in the oil market.
Geopolitical Factors Influence Crude
Brent crude traded at $68.11 per barrel as indirect discussions between Washington and Tehran continued. Analysts note that geopolitical risk premiums persist despite diplomatic efforts. "The Iranian risk premium cannot be fully defused as long as U.S. warships remain positioned in the region," commented SEB analyst Bjarne Schieldrop.
Supply Dynamics Remain Mixed
OPEC's January production declined to approximately 28.34 million barrels per day, representing a decrease of about 60,000 barrels daily from December levels. Meanwhile, non-OPEC supply showed signs of recovery, with Chevron's Tengiz field in Kazakhstan operating at roughly 60% capacity following recent disruptions. Full restoration is targeted for February 23.
Exxon's Operational Milestones
Exxon continues to emphasize production growth and shareholder returns. The company recently reported its strongest annual upstream production in over four decades at 4.7 million barrels of oil equivalent per day. CEO Darren Woods stated the company is "capturing more value from every barrel and molecule we produce."
A significant development approaches as Exxon's Golden Pass LNG export terminal in Texas, developed jointly with QatarEnergy, is scheduled to deliver its first liquefied natural gas in "very early March" following previous delays and cost overruns.
Shareholder Returns and Competitive Landscape
The company announced a quarterly dividend of $1.03 per share payable March 10, with a record date of February 12. Exxon also maintains a share repurchase program targeting up to $20 billion through 2026, contingent on market conditions.
Competitive positioning remains a focus, with analysis showing Exxon and TotalEnergies each maintain proven reserves supporting over 12 years of production, while Shell's reserves cover less than eight years at current output levels.
