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Exxon rebounds with strong profits and growth after a tough decade, boosted by strategic deals and rising oil prices.

Market News
07 Jun 2026
24/7 Wall Street
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Bullish
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Exxon Mobil transformed under CEO Darren Woods starting in 2018, focusing on cost cuts and advantaged assets. Despite a pandemic-driven slump and removal from the Dow in 2020, Exxon surged with record profits in 2022 due to rising oil prices and strategic acquisitions like Pioneer Natural Resources in 2024. By 2025, production hit a record 4.7 million barrels per day, with advantaged assets making up 59% of output. While Exxon underperformed the S&P 500 over 10 years, recent years show strong returns and dividend growth, making it attractive if oil prices remain high and cost savings continue.

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