U.S. stocks are on the move: exxon mobil rose more than 1%, planning to lay off 397 people at pioneer natural resources.
Gelonghui November 14th | exxon mobil (XOM.US) rose more than 1%, closing at $121.73. On the news front, after acquiring pioneer natural resources for $63 billion earlier this year, exxon mobil announced plans to lay off 397 people. In a notice issued to the Texas Workforce Commission on Wednesday, exxon mobil stated that the layoffs will be carried out in seven phases from now until May 2026, accounting for nearly 20% of the employees before the merger of pioneer. The layoffs will mainly affect pioneer's operations in Irving, a suburb of Dallas, and Midland, Texas.
Exxon Mobil (XOM.US) plans to cut nearly 400 jobs at Pioneer Company by 2026.
After acquiring pioneer natural resources for 63 billion dollars earlier this year, exxon mobil (XOM.US) announced plans to lay off 397 employees.
Reported Nov 13, 2024, 'Exxon Mobil To Lay Off Nearly 400 Texas Employees As A Result Of Pioneer Acquisition' - Houston Business Journal
Express News | Exxon Mobil Will Layoff Some 376 Workers in Dallas County - Regulatory Filing
IEA: Crude oil demand growth in 2024 may be halved, with a surplus of over one million barrels of crude oil expected every day next year.
In terms of demand, the IEA expects that this year, global oil consumption will increase by 0.92 million barrels per day, which is less than half of the growth rate in 2023. By 2025, demand will grow by 0.99 million barrels per day. However, the IEA predicts that supply growth will continue, with production from countries such as the usa, Brazil, Canada, and Guyana increasing by 1.5 million barrels per day this year and next.
Mizuho Adjusts Price Target on Exxon Mobil to $137 From $130, Maintains Neutral Rating