U.S. Tops Russia to Become the World’s Biggest Oil Producer
According to the monthly report issued by the U.S. Energy Information Administration (EIA), the U.S.’s total output for the month of August stood at record 11.346 million barrels a day compared to Russia’s 11.21 million. With these figures the U.S. now surpasses Russia to claim the title of world’s top oil producer, with the largest year-on-year output increase in U.S. history.
U.S. oil supply in August increased by 2.1 million barrels. According to the EIA, it’s the largest recorded increase in data since 1920. A 48% rally in oil prices in recent months saw the oil companies of Texas, Colorado and other states pump up their shale drilling to boost production. The U.S. Gulf of Mexico clocked record production during the month, as did New Mexico, which has benefited from massive growth in the Permian Basin.
For the U.S., the title of world’s biggest oil producer was extremely short-lived however, as Russia regained the title in September by producing 11.37 million barrels a day. With pledge to pump in more oil to offset declines in Venezuela and plug any supply shortfalls from U.S. sanctions on Iran, Russia is expected to hold the top spot for some time.
Although production has slowed a little in recent times as U.S. drillers wait for new pipelines to come up in the Permian Basin in 2019 and 2020, the industry expects the nation’s output to reach ~16.5 million barrels a day by 2030 -- even if oil is at $55 a barrel.
Perhaps as a result of the production boom, oil capped its worst month in October in more than two years, falling 1.3% in New York Wednesday to $65.31 a barrel.
XOM in upward trend: price rose above 50-day moving average on July 17, 2026
XOM moved above its 50-day moving average on July 17, 2026 date and that indicates a change from a downward trend to an upward trend. In of 47 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on July 07, 2026. You may want to consider a long position or call options on XOM as a result. In of 92 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for XOM just turned positive on July 07, 2026. Looking at past instances where XOM's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
The 10-day moving average for XOM crossed bullishly above the 50-day moving average on July 23, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. 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 371 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 316 cases where XOM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 8 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
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 July 13, 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.
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 31, 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 Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding 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 Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued 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 (2.558) is normal, around the industry mean (2.450). P/E Ratio (26.421) is within average values for comparable stocks, (24.212). Projected Growth (PEG Ratio) (1.333) is also within normal values, averaging (1.290). Dividend Yield (0.026) settles around the average of (0.039) among similar stocks. P/S Ratio (2.052) is also within normal values, averaging (2.395).
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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