Exxon Mobil Corp XOM shares are trading higher by 4.80% to $99.82 during Wednesday's session amid an increase in the price of oil following reports suggesting OPEC+ has agreed to a 2 million barrel per day output cut.
Why It Matters
This reduction could reverse weeks of declining oil and gas prices, according to Reuters, despite the U.S.'s lobbying to retain current quotas.
The U.S. had promised to buy 200 million barrels from OPEC members to restock its strategic petroleum reserve...Read More
Exxon Mobil is an integrated oil and gas company that explores for, produces and refines oil around the world.
According to data from Benzinga Pro, Exxon Mobil has a 52-week high of $105.57 and $57.96.
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