NEW YORK, January 3, 2026, 11:20 ET — Market closed
- Exxon Mobil shares rose 1.9% on Friday to $122.65, near the top of their 52-week range.
- Oil settled slightly lower as traders weighed oversupply concerns against geopolitical risks, with OPEC+ due to meet on Sunday.
- Markets are looking ahead to next week’s U.S. labor-market data and Exxon’s late-January earnings window.
Exxon Mobil Corporation shares closed higher on Friday, rising 1.9% to $122.65 in the first U.S. trading session of 2026.
The move matters now because investors are resetting positions at the start of the year, with value sectors drawing interest even as big tech weighed on broader benchmarks. U.S. stocks ended mixed on Friday, with the Dow up 0.66% and the S&P 500 up 0.19%.
Energy also remains tied to the next swing in crude prices, with OPEC+ set to meet on Sunday as the market debates whether supply will stay ahead of demand. Brent settled down 10 cents at $60.75 a barrel and U.S. WTI fell 10 cents to $57.32 on Friday.
Exxon traded between $119.61 and $122.68 in Friday’s session and finished at $122.65 on volume of about 14.2 million shares, according to Yahoo Finance historical data.
The rally broadly tracked gains across U.S. oil and gas names. Chevron gained 2.3% and ConocoPhillips rose 3.3% on Friday, MarketWatch data showed.
Oil’s muted move underscored the tug-of-war between geopolitical headlines and a market that traders see as adequately supplied. “Oil prices are locked in this long-term trading range,” Phil Flynn, senior analyst with the Price Futures Group, told Reuters. Reuters
Reuters reported that traders have been weighing oversupply concerns against risks tied to the Ukraine war and Venezuelan exports, while tensions involving key producers in the Middle East remain in focus.
For Exxon, that backdrop matters because its earnings are still driven largely by crude and gas production, even as its refining and chemicals operations can cushion swings in commodity prices. Both Brent and WTI posted annual losses of nearly 20% in 2025, Reuters reported.
Exxon has leaned on buybacks and longer-term production plans as investors gauge how the industry adapts to a softer oil tape. The company said in December it planned to maintain its $20 billion annual share repurchase pace through 2026, assuming “reasonable market conditions.” ExxonMobil
Before Monday’s open, traders will be watching for any signal from Sunday’s OPEC+ meeting on whether the group extends its pause on output increases into the first quarter. Reuters reported that traders widely expect the pause to continue.
Macro data is also back on the radar after holiday-thinned trading, with Reuters noting that next week’s labor-market releases could be key for the Federal Reserve outlook and the dollar — both important inputs for oil pricing.
On the company calendar, Exxon’s next earnings release is expected around January 30, according to Zacks’ earnings schedule, putting focus on production volumes, refining profitability and capital returns.
Technically, Exxon is sitting at the top end of its 52-week range ($97.80–$122.68). A close above that band would put a fresh breakout in play, while a pullback toward the 50-day moving average — a common trend gauge — would leave the stock testing support near $120.15, according to Investing.com.
