New York, Jan 27, 2026, 12:12 EST — Regular session
- Exxon Mobil shares edged up roughly 1% by midday, buoyed by stronger crude prices.
- Freezing weather gripping the Gulf Coast has forced the company to start shutting down units at its Baytown, Texas complex.
- Investors are focused on two major events: Exxon’s earnings report on Jan. 30 and the upcoming OPEC+ supply discussions this weekend.
Exxon Mobil Corporation shares climbed $1.48, around 1.1%, to $136.32 on Tuesday, beating a more subdued broader market as oil prices gained traction.
This move carries weight since Exxon serves as a key indicator for U.S. energy. Traders are recalibrating supply risks tied to weather after a winter storm struck the Gulf Coast’s oil and refining center.
The announcement comes just days ahead of Exxon’s quarterly results, with investors zeroing in on refining margins and the impact of earlier quarter drops in crude and gas prices on upstream earnings.
Crude rose about 1% as producers and refiners dealt with storm disruptions, while a slower-than-expected ramp-up at Kazakhstan’s massive Tengiz field added pressure on supply. “The cold weather in the U.S. will likely cause quite significant drawdowns in oil stocks,” said PVM’s Tamas Varga. UBS analyst Giovanni Staunovo noted the market remains “tighter” due to the gradual Tengiz recovery. 1
Exxon announced it is shutting down units at its Baytown, Texas petrochemical complex due to freezing temperatures. The facility houses a refinery processing 564,440 barrels per day, though Exxon didn’t specify which units are impacted. 2
Exxon revealed on Monday that it has kicked off commercial carbon capture and storage operations alongside CF Industries in Louisiana. This technology captures CO2 from industrial facilities and deposits it underground. The project is expected to move and store as much as 2 million tonnes of carbon dioxide annually from CF’s Donaldsonville plant. 3
China’s BYD announced plans to expand its collaboration with Exxon on hybrid technology, signing a long-term memorandum of understanding. The deal covers customised product R&D and work on new materials. 4
Still, a downside risk remains. Should temperatures drop and Gulf Coast activity return to normal soon, the weather-related premium on crude could evaporate quickly, pulling some momentum from the energy trade.
Exxon has highlighted just how volatile its results can be: it warned that weaker crude prices might slash fourth-quarter upstream earnings by roughly $800 million to $1.2 billion. However, higher refining margins could help cushion the blow. The company plans to release its earnings on Jan. 30, according to its filing. 5
Traders are eyeing Gulf Coast output and refinery runs for any changes, along with potential shifts in OPEC+ supply signals during their Feb. 1 talks. Exxon’s earnings report on Jan. 30 could trigger near-term moves.
