Senate Vote on Arctic Refuge: The U.S. Senate voted to repeal a Biden-era policy that restricted oil and gas development in the Arctic National Wildlife Refuge, allowing potential leasing on much of the 1.6 million acre coastal plain.
Legislative Progress: The resolution, which passed in the House last month, is now set to be signed into law by President Trump, reversing the Biden administration's restrictions that limited drilling access to approximately 400,000 acres.
Impact on Oil Industry: The repeal paves the way for future lease sales in the refuge, coinciding with increased interest from the oil industry in Alaska’s North Slope, despite previous lease sales yielding minimal bids.
Oil Reserves Estimate: The coastal plain of the Arctic National Wildlife Refuge is estimated to contain 7.7 billion barrels of recoverable oil, which is more than the total oil consumption in the U.S. for 2024, according to the Congressional Research Service.
Wall Street analysts forecast XOP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XOP is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast XOP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XOP is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Buy
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0 Sell
Current: 134.630
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Current: 134.630
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
