Oil Prices: MOL is an integrated oil and gas company; therefore, fluctuations in global oil prices significantly impact its profitability and stock price.

Refining Margins: The difference between the price of crude oil and refined products affects MOL's refining segment's earnings, influencing investor sentiment.

Hungarian Economy: As a major Hungarian company, MOL's performance is tied to Hungary's economic health; growth or recession affects its revenue and stock value.

Government Regulations: Changes in Hungarian or EU energy regulations, taxes, and environmental policies can impact MOL's operations and profitability.

Geopolitical Events: Events impacting energy supply, such as conflicts or political instability in oil-producing regions, can affect oil prices and MOL's stock.

Investor Sentiment: Overall market sentiment and investor confidence in the energy sector play a role in determining the demand for MOL shares.

Production Volumes: The amount of oil and gas MOL produces directly impacts its revenue; increased production can positively affect the stock price.

Dividend Policy: Changes in MOL's dividend payout ratio or yield can influence investor interest and the attractiveness of the stock.

Competition: The competitive landscape in the energy market, including the presence of other large players, can affect MOL's market share and pricing power.

Exchange Rates: Fluctuations in the Hungarian Forint exchange rate relative to other currencies, especially the Euro and US Dollar, can impact MOL's reported earnings and asset values.