Texas gets double punch from virus and oil shock: 'There's no avoiding this one.' [MSN Money]
Exxon Mobil Corporation (XOM)
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Source: MSN Money
© Mark Felix for The Wall Street JournalTexas had one of the bt economic records of any U.S. state after the 008 financial crisis. In this crisis, it fac the prospect of a deep and prolonged downturn.The Lone Star State is exposed to many of the pandemic and shutdown’s economic ill consequc, with three citi—Austin, Houston and Dallas—home to an abundance of service-sector jobs, pecially at risk. A downturn in the oil industry and other busins big in Texas, including airlin and ports, will likely amplify its pain. Industry analysts expect the oil downturn to outlast the currt viral outbreak.Oil pric surged late last week on hop of a global pact involving Russia, Saudi Arabia and possibly the U.S. to cut crude output. But the prospects are uncertain, and ev sizable oil production cuts would fall short of making up for the ormous drop in demand for fuels caused by coronavirus. Pric remain below $0, at levels where most Texas producers cannot make money.Load ErrorInitial claims for unempl
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XOM
Earnings
- 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