Quick Read
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XOP is up 43% as Hormuz disruptions cut global supply, but EIA forecasts production returning fast enough to drag Brent to $79 by 2027.
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Venture Global (VG) is XOP’s largest holding at 3%, and Qatari LNG returning at scale would crush the gas spread powering VG’s margins.
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The SPDR S&P Oil & Gas Exploration & Production ETF (NYSEARCA:XOP) is up 43% year to date, riding a WTI rally born from the Middle East supply shock that shut in roughly 10.5 million barrels per day of Gulf production in April. XOP now trades near $179, and the entire…
