Barron's Streetwise
Oil Outlook, and an Exxon Upgrade
Jan 26, 2024
Two top energy researchers discuss the outlook for oil prices, refining margins, and global natural gas prices. They explore the challenges faced by small oil and gas operators and the need for continued investment in the industry. They also mention the shift in focus from ESG and the potential consequences of global conflicts and oversupply. The speakers discuss the resilience of one U.S. major and potential obstacles for Chevron's future performance.
30:26
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Quick takeaways
- The US oil industry is adopting a new strategy focused on cash generation and profitable allocation of capital, making it more resilient.
- Exxon Mobil's stock rating has been upgraded to outperform due to factors such as free cash flow, dividend coverage, and investments in low-cost resources and clean energy.
Deep dives
Black Americans' Retirement Savings Gap
TIAA's collaboration with artists like Wycliffe John aims to address the fact that 54% of Black Americans don't have enough savings to retire. Their release of the music album Paper Right is designed to inspire a new financial future, with streaming sales going to a nonprofit that teaches students about investing.
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