UBS Highlights Exxon Mobil’s (XOM) Long-Term Energy Investment Potential

Exxon Mobil Corporation (NYSE:XOM) ranks among the stocks with low beta that can beat market volatility. On September 23, UBS restated its Buy rating for Exxon Mobil Corporation (NYSE:XOM), with a $143 price target. According to analyst Josh Silverstein, absolute energy demand will continue to rise into 2050, driven primarily by developing nations, which will likely consume significantly more energy, despite a projected decrease in energy consumption per capita as technology evolves.

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Exxon Mobil Corporation (NYSE:XOM) that oil demand could rise to almost 105 million barrels per day by 2050, up from roughly 100 million barrels per day last year, thus requiring sustained investment in both current and future endeavors to meet global demand.

Exxon Mobil Corporation (NYSE:XOM) estimates tight oil output in the United States to peak around 2030, although the oil giant predicts that technology developments such as improved fracturing engineering and enhanced oil extraction methods could contribute roughly 2.5 million barrels of oil per day of recovery by 2050.

Exxon Mobil Corporation (NYSE:XOM) engages in the production, trade, transportation, and sale of crude oil, natural gas, petroleum products, petrochemicals, and specialized goods.

While we acknowledge the potential of XOM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than XOM and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.