NEW YORK, January 3, 2026, 05:50 ET — Market closed.
- Exxon Mobil last closed up about 1.9% at $122.65 on Friday.
- Oil traders are bracing for Sunday’s OPEC+ meeting on supply policy.
- Record U.S. LNG export data put Exxon’s Golden Pass start-up timeline back in view.
Exxon Mobil Corp (XOM) shares last closed up about 1.9% at $122.65 on Friday, after trading between $119.66 and $122.78. About 14.2 million shares changed hands.
The stock heads into the weekend with oil markets focused on Sunday’s OPEC+ meeting and a fresh debate over whether global supply stays heavy in early 2026. Brent settled at $60.75 a barrel and U.S. crude ended at $57.32, Reuters reported. “Oil prices are locked in this long-term trading range,” said Phil Flynn, senior analyst at Price Futures Group. Reuters
Natural gas is also in play. The U.S. became the first country to export more than 100 million metric tons of liquefied natural gas (LNG) in a year in 2025, hitting 111 million metric tons, LSEG data cited by Reuters showed. Reuters also reported that the first train at Golden Pass LNG — a QatarEnergy-Exxon joint venture — is set to begin production in the first quarter; a “train” is one processing unit that liquefies gas for shipping. Reuters
Energy stocks broadly rose in the first session of 2026. Chevron gained about 2.3% and ConocoPhillips rose about 3.3%, while the S&P 500 edged up 0.19%, MarketWatch data showed. MarketWatch
For Exxon, the setup matters because the company’s earnings power still leans on upstream prices, even though refining and chemicals can cushion the blow when crude weakens. That mix can make the stock less volatile than pure-play producers, but it rarely escapes big swings in the commodity tape.
LNG adds a different lever. Long-term contracts can steady cash flow, while spot pricing can spike in winter, making new export capacity and commissioning timelines a key watchpoint for investors tracking the U.S. gas story.
The market’s early-2026 question is simple: does OPEC+ keep barrels tight enough to stabilize prices, or does oversupply remain the base case? Exxon’s shares tend to reflect that view quickly because the company sits at the center of global production, refining and trading flows.
Before the next session, traders will watch weekend headlines out of the OPEC+ meeting and the first moves in oil futures when trading reopens. A clear signal on supply policy can reset sentiment for the large oil majors before U.S. equities reopen.
U.S. energy traders also get fresh demand and inventory signals next week from the Energy Information Administration’s Weekly Petroleum Status Report, typically released at 10:30 a.m. ET on Wednesdays. The Bureau of Labor Statistics has the Employment Situation report for December scheduled for 8:30 a.m. ET on January 9, a release that often moves the dollar and rate expectations that feed into commodities pricing. U.S. Energy Information Administration
On the chart, $120 sits near a short-term pivot after Friday’s rally, while the $123 area marks near-term resistance after the stock faded just under that level. A break either way is likely to track crude’s next decisive move.
