XOM beat fourth-quarter earnings market expectations and for the fourth Quarter in a row. Full-year adjusted earnings $59.1 billion from $23.0 billion in 2021. ExxonMobil boosted output from the Permian shale basin and Guyana by 30% in 2022. Exxon achieved best-ever annual refining throughput in North America and the highest globally since 2012.
Overall, the market supply disruption in Oil and Gas supply has benefitted Exxon resulting in large profits and better margins.
Follow the money, expect a longer-term bullish trend.
It took out the high. I did not expect that. But there is a slight retreat below that.
Follow the money? Note the green CMF. A CMF reading only stays green or red for so long. Meaning when everyone has bought there are a lot fewer buyers. When everyone has sold there are a lot fewer sellers. Threat the dominate color as additive, until it is not dominant.