Can Exxon Stock Bounce Back in 2021?

This past year might go down as the worst in ExxonMobil's (NYSE: XOM) history. Thanks to cratering oil prices, the oil giant lost billions of dollars through the third quarter and is expected to record a historic writedown approaching $20 billion for the fourth quarter. Exxon therefore failed to increase its dividend for the first time in decades. As a result, its stock price cratered 40%, which caused it to briefly lose the title of the country's largest oil company.

However, with this brutal year nearly in the books, it's time to look ahead at what 2021 might bring. Here's the case for and against seeing the oil giant bounce back in the coming year.

Image source: Getty Images.

Source Fool.com