Negative oil prices could kick off the next price boom [CNNMoney.com]
Exxon Mobil Corporation (XOM)
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Source: CNNMoney.com
How negative oil prices could set the stage for the next price boom New York (CNN Business) The boom-to-bust oil market is experiencing one of its darkest moments in history. Oil demand is collapsing because of the coronavirus crisis. Supply is shrinking -- but not nearly fast enough. The world is literally running out of room to store unneeded barrels of oil piling up during the coronavirus pandemic. That storage problem is so dire that it caused oil prices to turn negative this week for the first time ever. Trump promises to rescue oil companies after prices go negative The crash is forcing a reckoning in the oil industry -- a painful one. Many shale oil producers have canceled drilling plans. Others have been forced to shut down active wells. Some frackers won't survive at all. But the violent rebalancing in the oil market might be so overdone that it will set the stage for a spike in prices. When and if demand recovers, there might not
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XOM
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- 10/31/25 - Beat
XOM
Sec Filings
- 12/2/25 - Form 4
- 12/2/25 - Form 4
- 12/2/25 - Form 4
- XOM's page on the SEC website