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Exxon Mobil (XOM) Stock Down After Oil Prices Drop

NEW YORK (TheStreet) -- Exxon Mobil Corp. (XOM - Get Report) stock is falling 0.48% to $84.99 in afternoon trading on Friday as shares of the Irving, TX-based energy company are pressured by a decline in oil prices.

WTI crude is down 2.92% to $40.29 per barrel on the New York Mercantile Exchange, while Brent crude is decreasing 1.76% to $43.07 per barrel on the Intercontinental Exchange this afternoon.

Oil prices weakened ahead of the meeting between some of the largest oil-producing countries in Doha, Qatar this Sunday. Representatives of the countries will discuss potentially freezing production, Reuters reports.

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