Exxon Mobil Stock: Brace For Oil Supply-Demand Stability (Downgrade) (NYSE:XOM)

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Bloomberg/Bloomberg via Getty Images Investment thesis My previous bullish thesis about Exxon Mobil (NYSE:XOM) did not age well since the stock provided zero return since November 6, 2023. At the same time, the S&P 500 grew by about 15%. After analyzing recent development and their anticipated impact on energy commodity markets, I must concede that my earlier assessments were completely off the mark. I have overestimated the positive influence of geopolitical uncertainty and OPEC's ability to sway oil prices. It appears that the oil supply will remain resilient, and major economies are unlikely to deliver positive surprises in 2024. At...