An In-Depth Look At Exxon Mobil’s Revenue And Its Determining Factors


  • Exxon Mobil Corporation’s revenue is heavily influenced by the prices of Brent crude oil, WTI crude oil, and natural gas.
  • A multiple linear regression model was used to estimate the company’s revenue for Q1 2023 based on the EIA’s short-term outlook for commodity prices.
  • The regression model, with its high degree of predictability, offers valuable insights into Exxon Mobil’s revenue, making it a reliable tool for assessing the company’s performance and potential.
  • Investors who are bullish on the oil and natural gas markets should consider securing positions in Exxon Mobil at the current market prices, as this is an attractive investment opportunity.

A Exxon gas station is seen with dark blue sky in the background at dusk.


Investment Thesis

Exxon Mobil Corporation (NYSE:XOM) is a massive global energy company with a rich history in the oil and gas industry. The company’s revenue is heavily influenced by several key factors, including the average price of Brent crude oil, West

Exxon Energy Outlook October 2022 Infographics

Exxon Energy Outlook (Exxon Mobil 2022 Outlook File)

Regression Statistics
R Square 0.9686
Adjusted R Square 0.9662
Standard Error 3,912.06
Observations 44

Monthly average crude oil spot prices (Jan 2021�&Dec 2024)

EIA Short-Term Energy Outlook, January 2023 (U.S. Energy Information Administration)

Data by YCharts

Data by YCharts

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in XOM over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: There are risks associated with investing in securities, including loss of principal. As such, before buying or selling any stock, we recommend doing your own research and reach your own conclusion or consulting a financial advisor. The information contained in this article is for informational purposes only.

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