Is the Current Oil Price Favorable for ExxonMobil's Upstream Business?

Key Takeaways ExxonMobil's upstream unit benefits from WTI crude above $63 and low-cost Permian and Guyana assets.XOM targets reducing breakeven costs to $30 per barrel by 2030 for greater efficiency and cash flow.XOM shares gained 3.5% in a year, while its EV/EBITDA valuation stands above the industry average.Exxon Mobil Corporation (XOM) earns most of its income from its upstream business. Since exploration and production activities mainly depend on oil and gas prices, the natural question is whether the ...