Exxon Mobil's stock hits a new high. Its CEO's call on Venezuela may be helping.

By Claudia Assis President Trump has threatened to cut Exxon Mobil out of oil deals in Venezuela, but that hasn't derailed the rally in the energy giant's shares Exxon Mobil CEO Darren Woods at Friday's meeting with President Donald Trump at the White House. Woods called for security and contractual guarantees in Venezuela, which he deemed "uninvestable" at present. Exxon Mobil's stock is on track for a record high on Tuesday - a feat it hasn't achieved in more than a year - as Wall Street seems to have discounted President Donald Trump's criticism of the oil giant and its chief executive. An all-time closing high would be the first for Exxon Mobil's stock (XOM) since Oct. 7, 2024, when it closed at $125.37. The stock has gained in three of the past four sessions, faltering slightly on Monday right after Trump's comments. Exxon Mobil CEO Darren Woods candidly called Venezuela "uninvestable" at a White House meeting on Friday, leading Trump on Sunday to threaten to cut the company out of any oil deals in Venezuela. Trump may not have liked Woods's tone on Venezuela, but there's a list of other factors Wall Street loves about Exxon. Don't miss: Trump's new prediction for 'massive wealth' from Venezuelan oil may take a while to play out The company has earned praise from analysts for its steadiness, its ability to draw profit from all aspects of the energy industry, and its enviable exploration and production footprint - which includes West Texas's Permian Basin and, next door to Venezuela, Guyana, where it has emerged as a key player. Guyana became a "significant contributor to growth" in global oil supplies in just a few short years, thanks in large part to Exxon Mobil's investments. And as crude-oil futures (CL00) (BRN00) hover below $65 a barrel, there's very little incentive for Exxon and perhaps other integrated oil companies to vie for any possible riches in Venezuela, where there are more questions than answers at the moment. Trump reportedly wants crude oil to drop to $50 a barrel, a level that many in the energy industry consider far too low to be sustainable and one that could be at odds with the interests of U.S. crude-oil producers, even smaller ones. Exxon and ConocoPhillips (COP) exited Venezuela after waves of expropriations that started under then-President Hugo Chávez in the 2000s and continued under Nicolás Maduro, who is now in American custody after a U.S. military operation on Jan. 3. Chevron (CVX) has remained in the country. Trump has said the U.S. would invest $100 billion in Venezuela, and that plenty of energy companies are lining up to be part of that effort. The president also told executives that their companies would have U.S. security guarantees when operating in Venezuela, without elaborating. At the meeting Friday, Woods also said that oil companies need to have "durable protections" for their investments and to see changes in Venezuela's laws governing hydrocarbons. In the short term, he said Exxon Mobil had committed to sending a technical team to assess the situation, and that the company is willing to assist with bringing Venezuelan crude to the market. -Claudia Assis This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. (END) Dow Jones Newswires 01-13-26 1249ET