ExxonMobil's stock rises 40% in 2026, reaching $164.23 amid strong earnings and EU dispute

Key points

• ExxonMobil reported Q2 2026 earnings of $14.5 billion, with a free cash flow exceeding $17 billion and a $7 billion reduction in net debt.
• The company achieved record production levels, including over 1.8 million barrels per day in the Permian Basin and 900,000 barrels per day in Guyana.
• ExxonMobil is engaged in a legal dispute with the European Union over climate regulations, which could lead to costly arbitration and reputational damage.
• Analysts suggest that if oil prices remain high, ExxonMobil's stock could reach a target of $200, but projections indicate a potential drop to $79 by 2027.