ExxonMobil is one of several American oil companies that reportedly experienced a “rough first half of 2023”, according to a June 24 article published under the name of former President of the high profile Texas Alliance of Energy Producers, Alex Mills. Titled “Oil and gas companies have rough first half of 2023,” the article asserts that “Inflation, supply chain issues, and attacks by politicians in the U.S. and Europe have resulted in a decline of investment capital from financial institutions and outside investors.”
“Out of the top eight oil and gas producing companies, six have had their stocks decline since Jan. 1. Chevron’s stock price has declined 12%, Conoco and EOG down 11%, Pioneer Natural Resources off 9%, ExxonMobil down 5%, and Oxy off 3%. All of these companies are headquartered in the U.S,” Mills writes in an Opinion piece published in the Wichita Falls, Texas-based Times Record News.