Analysts: European oil majors more prepared for low-carbon economy than US peers

Outlook for big oil still remains positive

David Brenchley
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ExxonMobil's market ejection was widely seen as "symbolic", according to one manager
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ExxonMobil's market ejection was widely seen as "symbolic", according to one manager

The removal of ExxonMobil from the Dow Jones Industrial Average has been hailed "a landmark moment" that is "a sign of the… shifting landscape" in the energy sector, but analysts nevertheless remain positive on the outlook for some of the industry's major players.

Exxon was booted from the Dow at the end of August after a 92-year spell in the index - the longest-serving member. The firm, which was once the largest in the US, was replaced by cloud software provider Salesforce, as technology's influence on the transatlantic stockmarket strengthens. At $400bn, Tesla is now larger than Exxon, Shell and Total combined, at $327bn for instance. Exxon's exit was widely seen as "symbolic", with Helal Miah, investment research analyst at The Share Centre, noting the Dow is price-weighted, rather than market cap-weighted, and that Exxon at $150bn "will...

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