Benzinga | Dec 9, 2020 01:10PM EST

Why Equinor, Exxon And More Oil Stocks Are Trading Higher Today

The shares of several oil companies are trading higher on Wednesday amid strength in oil prices. Oil prices are higher for the session on COVID-19 vaccine optimism and U.S. stimulus hopes, despite a build in crude inventories.

Baker Hughes (NYSE:BKR) now known as GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry. In July 2017, this division was merged with Baker Hughes.

Baker Hughes shares were trading up 3.39% at $23.18. The stock has a 52-week high of $25.99 and a 52-week low of $9.12.

BP plc (NYSE:BP) is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2019, it produced 2.3 million barrels of liquids and 9.5 billion cubic feet of natural gas per day, including volumes from its 20% ownership interest in Rosneft.

BP's shares were trading up 1.01% higher at $22.01. The stock has a 52-week high of $40.08 and a 52-week low of $14.74.

Equinor (NYSE:EQNR) is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2019 (52% oil) and ended the year with 6.0 billion barrels of proven reserves (48% oil).

Equinor shares were trading up 1.39% at $16.81. The stock has a 52-week high of $21.04 and a 52-week low of $8.41.

Exxon Mobil Corporation (NYSE:XOM) is an integrated oil and gas company that explores for, produces, and refines oil around the world. The company is the world's largest refiner with a total global refining capacity of 4.7 million barrels of oil per day and one of the world's largest manufacturers of commodity and specialty chemicals.

Exxon Mobil shares were trading up 2.39% at $43.25. The stock has a 52-week high of $71.37 and a 52-week low of $30.11.