NEW YORK, January 1, 2026, 11:03 ET — Market closed.
- Exxon Mobil shares ended the year lower, closing down 0.54% on Dec. 31.
- Oil finished 2025 down nearly 20%, putting crude-sensitive energy names back in focus.
- Traders are watching early-January OPEC+ talks and Exxon’s next SEC filing for clues ahead of earnings.
Exxon Mobil (XOM) slipped 0.54% to $120.34 on Wednesday, the last trading day of 2025, after touching $121.26. Investing.com data show the stock has traded between about $97.80 and $121.80 over the past 52 weeks, and it hit a low of $114.61 in mid-December.
The drift lower leaves Exxon starting 2026 with crude prices doing most of the talking. For integrated majors such as Exxon and peer Chevron, the market often treats oil as shorthand for near-term cash flow and capital returns.
Oil’s slide through the year has revived questions about 2026 supply growth and how quickly demand cools once the holiday period ends. That matters for Exxon’s upstream business — its oil-and-gas production unit — and for refining margins, which can swing with fuel inventories.
Brent crude settled at $60.85 a barrel on Wednesday, while U.S. West Texas Intermediate ended at $57.42. Brent finished 2025 down about 19% and WTI down almost 20%, and Reuters said OPEC+ meets on Jan. 4 after pausing output hikes for the first quarter of 2026. BNP Paribas commodities analyst Jason Ying expects Brent to dip to $55 in the first quarter before recovering to $60 for the rest of 2026.
A government report on Wednesday showed U.S. crude inventories fell by 1.9 million barrels in the week ended Dec. 26, while gasoline stocks rose 5.8 million and distillates — a category that includes diesel and heating oil — climbed 5 million, Reuters reported. The Energy Information Administration data also showed total product supplied, a proxy for demand, fell by 934,000 barrels per day to 19.38 million. Reuters reported imports fell to 4.95 million barrels per day, the lowest since February 2021, as companies tried to dodge year-end ad valorem taxes — a levy based on the value of oil held in storage.
“Prices are likely to trend downwards in the first quarter of 2026 because of a growing oil glut,” Marex analyst Ed Meir said. Reuters
U.S. stocks ended lower in the final session of the year, and energy shares were among the laggards, Reuters reported. Trading volumes were thin in the holiday-shortened week, with U.S. markets closed on Thursday for New Year’s Day.
Exxon is an integrated oil and gas company, and it groups operations into Upstream, Product Solutions and Low Carbon Solutions, according to its investor relations site. Exxon also lists a “4Q25 Earnings Considerations 8-K” for Jan. 7 after market hours, directing investors to the SEC website. Exxon Mobil Corporation
Lower crude prices typically weigh on upstream realizations — what producers receive for each barrel — while cheaper feedstock can help refiners if fuel demand holds up. The latest U.S. data, however, pointed to swelling product inventories that can pressure refining margins.
Before the next session on Friday, traders will watch whether Exxon holds the $120 area and pushes back toward its recent highs. In technical analysis, support is a level where buyers have tended to step in, while resistance is where rallies have stalled.
Oil is likely to stay in the driver’s seat heading into the Jan. 4 OPEC+ meeting, while Exxon’s Jan. 7 filing may shape expectations for quarterly swings in upstream and refining performance ahead of results.
Investing.com lists Exxon’s next earnings report date as Jan. 30. With crude ending 2025 near $60 a barrel, investors will be looking for commentary on production volumes, costs and whether downstream strength can offset any upstream softness.
