OPEC Members Concerned Over Growing U.S. Oil Production
In the last week of October, U.S. oil production touched a record 11.6 million barrels a day, surpassing both Russia and Saudi Arabia.
Ramped-up production by the U.S. -- ahead of the expected U.S. sanctions on Iranian crude which took effect this week -- has OPEC members and some non-OPEC members on their toes, as they meet over the weekend.
With the oil prices already dropping from a four-year high in early October owing to concerns of a supply glut, this sudden jump in U.S. oil production is expected to only add to these supply concerns, which could put downward pressure on prices. West Texas Intermediate futures are already down 20% from the near four-year high.
U.S. oil production is already up a stunning 2 million barrels a day from the same period last year, and 400,000 barrels from the week earlier, based on weekly U.S. government data. The U.S. government expects October production to be around 11.4 million barrels a day and expects production can enhance further to 12.1 million barrels a day on average next year.
What will happen to prices as a result?
XOM in downward trend: 10-day moving average crossed below 50-day moving average on May 29, 2026
The 10-day moving average for XOM crossed bearishly below the 50-day moving average on May 29, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for XOM moved out of overbought territory on May 20, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 42 similar instances where the indicator moved out of overbought territory. In of the 42 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on June 11, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on XOM as a result. In of 94 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for XOM turned negative on May 27, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at .
XOM moved below its 50-day moving average on May 26, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where XOM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
XOM broke above its upper Bollinger Band on May 18, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 61 cases where XOM's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XOM advanced for three days, in of 369 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 312 cases where XOM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 30, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.389) is normal, around the industry mean (2.004). P/E Ratio (24.680) is within average values for comparable stocks, (20.633). Projected Growth (PEG Ratio) (1.217) is also within normal values, averaging (1.229). Dividend Yield (0.028) settles around the average of (0.040) among similar stocks. P/S Ratio (1.917) is also within normal values, averaging (1.743).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. XOM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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General Information
a distributer of crude oil, natural gas and petroleum products
Industry IntegratedOil
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