Exxon doubles down on oil production spending as peers pull back

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Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

The cartel said earlier this month it would continue to hold back supplies as it looked to prop up prices amid sluggish consumption.

Exxon’s announcement came on the same day that Opec once again slashed its oil demand outlook for 2024 and 2025.

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Article Details

Author / Journalist: Myles McCormick

Category: MarketsFinanceInvesting

Markets: United StatesGuyanaMexicoUkraine

Topics: Producers 2024 Exxonmobil Year Produce Financial Spending 2030 Other Plans Expects

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 13:20:58 (1 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 288 words

Reading Time: 2 minutes read

Sentences: 25 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 24354868

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About Financial Times

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 8 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 9 hours ago

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