Where Will ExxonMobil Be in 10 Years?
ExxonMobil (NYSE: XOM) stock has generated steady dividend income for millions of investors over the years, so it isn't surprising that it still has many fans, despite its lackluster share price performance. Over the last 10 years, ExxonMobil stock has generated a total return of 11.6%, compared to 372% for the S&P 500 Index. However, the stock largely outperformed the broader market in the 2000-2015 timeframe.
That said, the key question for investors considering the stock now should be how the company will fare in the coming 10 years.
The International Energy Agency estimates that the global demand for oil could rise to 104.1 million barrels per day in 2026 from an estimated 96.5 million barrels per day in 2021. It expects market demand to start plateauing from 2030 onwards. Road transport accounted for 60% of oil demand growth in the last decade. But a shift toward greater use of electric vehicles is looming.
Source Fool.com
