Benzinga | Oct 8, 2021 01:56PM EDT

Why Exxon Mobil Shares Are Rising

Shares of several energy companies, including Exxon Mobil Corporation (NYSE:XOM), are trading higher in sympathy with the price of oil on increased demand.

Shares of several energy companies were also trading higher Tuesday as oil prices continue to rise following OPEC+ decision to stay with an existing pact to increase oil output by 400,000 bpd in November.

Companies in the broader oil sector also continue to see strength as oil prices gain amid ongoing supply concerns from the impact of Hurricane Ida.

Exxon Mobil is an integrated oil and gas company that explores for, produces and refines oil around the world.

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