• Structural headwinds are setting upon the oil market, among which the shale revolution, the dramatic fall in price of alternatives and climate and environmental risks.
• Slowly but surely, investors will be taking these things on board, and what is now only a slight breeze could gather force.
• Exxon is exposed by its optimistic view about the oil market and the threat of EVs, as well as its unusually expensive investment project portfolio.

Source: Exxon Mobil: Overly Optimistic About Oil Market? – Exxon Mobil Corporation (NYSE:XOM) | Seeking Alpha