Exxon Mobil (XOM) Stock Drops 11% In April Amid Crude Oil Price Collapse

Exxon Mobil Corp (XOM) shares dropped 11.2% in April, trading at $105.68, as the energy giant faces growing pressure from falling crude oil prices and mounting global economic uncertainty.

What To Know: West Texas Intermediate crude plunged over 2% to below $57 per barrel on Thursday, hitting four-year lows as traders brace for a possible OPEC+ production hike and signs of economic slowdown across major markets.

With oil prices now down 21% year-to-date and 55% from their 2022 peak, Exxon's core upstream operations?heavily reliant on crude pricing?are under strain.

Analysts warn the group's May 5 meeting could bring a supply boost, particularly as Saudi Arabia signals a willingness to tolerate lower prices. Goldman Sachs forecasts a modest production increase, but risks of a more aggressive move remain.

Further weighing on Exxon are recession concerns, with U.S. GDP contracting for the first time in three years and a 45% chance of recession over the next 12 months. As demand falters and supply risks grow, Exxon's near-term outlook remains clouded.

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How To Buy XOM Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Exxon Mobil’s case, it is in the Energy sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from?Benzinga Pro, XOM has a 52-week high of $126.34 and a 52-week low of $97.80.