Exxon Mobil: Merger With Pioneer And Expected Rising Oil Prices (Rating Upgrade)

• Exxon Mobil is set to acquire Pioneer Natural Resources, which will increase its oil and gas sales and make it the largest player in the Permian Basin.

• The oil market balance is expected to be influenced by voluntary production cuts from OPEC+ countries and concerns over slowing global demand.

• The forecast for Brent oil prices has been lowered, but overal…