Exxon Mobil Corp (NYSE:XOM) shares are trading lower by 2.42% to $85.43 during Tuesday's trading session. Shares of energy companies are trading lower amid a drop in oil prices as investors assess recession concerns. Concerns of an economic slowdown have pressured the demand outlook.

Shares of energy companies were also trading lower last week after OPEC+ agreed to stick to its planned output increase of 648,000 barrels per day in August, which has pressured oil prices.

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