Exxon Mobil (XOM) shares increased following price target hikes from Barclays and Piper Sandler. Piper Sandler designated the company as its top large-cap energy investment, citing expectations of tightening global supply.
U.S. oil prices climbed above $100 per barrel as geopolitical tensions regarding Iran’s export facilities intensified. Analysts expect these higher prices to significantly boost profit margins for major producers.
ExxonMobil and Halliburton also completed the first fully automated geological well placement in offshore Guyana. This digital transformation milestone aims to increase efficiency and reliability in well construction.