Exxon’s (NYSE: XOM) Q2 price pullback is an opportune entry point, as the move is tied to oil’s price decline and oil prices are set to rebound. The tenuous truce with Iran is apparently over, leaving its oil supply embargoed and Persian Gulf capacity back to locked-in status.
Oil prices may not reach their recent highs, but are expected to remain above long-running averages for the foreseeable future, underpinning healthy cash flows for this and other energy producers.
