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Are oil companies a bubble?

J
Feb 12, 2026 · 01:57

I've been keeping some XLE in my portfolio, and was startled to see how well it's performing. I decided therefore to look which oil companies are in the ETF, and have a look at their stock prices.

I was startled by the rapid growth rate of these, and was wondering if it might be time to sell, because it very much looks like a bubble to me. Especially with Exxon Mobil, the current growth is textbook parabolic.

[Exxon Mobil (XOM), Chevron (CVX) and Conoco Philips (COP)](https://imgur.com/a/WA3wiNM)

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