Big Oil Stocks Defy Oil Price Slump Despite Thousands of Job Cuts and Cost Cuts
ByAinvest
Thursday, Jan 15, 2026 8:31 pm ET1min read
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Despite a 20% slump in oil prices in 2025, Exxon and Chevron's stocks rose by 4-18%, breaking the correlation between crude prices and oil stocks. Investors appreciated strategic pivots to boost upstream production, synergies from recent acquisitions, and cost-cutting measures. However, the rally may end as profits are set to slide with lower oil prices, and the majors may have to sacrifice buybacks. Big Oil accelerated layoffs, eliminating thousands of jobs and pledging billions of dollars in cost savings.
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