Exxon Mobil (XOM)

The producer group agreed to boost output by 411,000 barrels per day in May, compared to a 135,000 bpd hike expected earlier.

The company said higher refining margins could boost its earnings between $300 million and $700 million.

U.S. stock futures plummeted on Thursday after advancing on Wednesday. Futures of benchmark indices were down over 2% in premarket trading.

Fitch Ratings said in a note that the tariffs are raising the dangers of an economic recession in much of the world.

The energy sector ETF has been consolidating between $80 and $100 since mid-2022 and is nearing key resistance, which could confirm a multi-year breakout.

According to analysts, investors had flocked to the sector based on a perceived safe-haven value.

Led by big oil giants Chevron and Exxon Mobil, the energy sector has risen +8% year to date compared to the benchmark S&P 500’s broader decline of -6%.

Value stocks are outperforming flashy growth rivals due to market uncertainty, making value-based ETFs a good bet for steady income and diversification.

Energy stocks dominated Q1 of 2025, while Tech and Consumer Discretionary suffered. Energy giants Chevron and Exxon had solid performances. Some Tech stocks shined.

President Donald Trump has expressed fury over recent remarks by Russian President Vladimir Putin suggesting Ukrainian President Volodymyr Zelenskyy should be replaced.