This Oil King Has a Brighter Future Than You Might Think
It's been a tough decade for ExxonMobil (NYSE: XOM). The integrated oil major has dealt with volatile oil prices over the past 10 years, and the stock is up just 10% over that time.
But boy, the tide has turned in 2022 -- oil prices are through the roof, and ExxonMobil is poised to see its highest profits in recent memory. The demise of fossil fuels looks further away than some anticipated, and ExxonMobil is seeing the revival investors have been waiting years for. Here is what you need to know.
ExxonMobil is an integrated oil company, meaning it operates in various aspects of the industry, including upstream operations like drilling and exploration and downstream operations like refining. Exxon's exploration business exposes the company to oil prices; the difference between what it costs to extract the oil and the price a barrel sells for is Exxon's profit.
Source Fool.com
