With Increased US Oil Production, Buy Exxon Mobil On The Pullback
- Growth of crude production in the United States is set to grow; the US has already matched global rival Saudi Arabia in daily output in 2014.
- Already capitalizing on this trend, Exxon Mobil is set to benefit, as horizontal drilling and hydraulic fracturing technologies become more widely used.
- Despite strong earnings results in Q2, Exxon Mobil shares have declined, opening a buying opportunity ahead of Q3 earnings on October 31.
- With a strong outlook and history of beating earnings estimates, we are optimistic on this titan, heading into its next report.