Benzinga | Oct 1, 2021 01:45PM EDT

Why Exxon Mobil Shares Are Rising

Shares of several oil & gas companies, including Exxon Mobil Corporation (NYSE:XOM), are trading higher Friday as oil prices rise on OPEC+ supply curbs.

Shares of oil and energy companies rose earlier in the week as oil prices gained amid supply concerns from the impact of Hurricane Ida. Goldman Sachs lifted its Brent price target to $90 per barrel.

ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2020, it produced 2.3 million barrels of liquids and 8.5 billion cubic feet of natural gas per day.

Exxon Mobil has a 52-week high of $64.92 and a 52-week low of $31.11.