The End Of Growth For U.S. Shale ...Middle East

OILPRICE - Economy

1. Exxon’s sharp CAPEX cuts- ExxonMobil (NYSE: XOM) announced plans to cut its CAPEX down to $20-$25 billion annually, lopping off $10 billion from what the company said in March at the onset of the pandemic. - In terms of spending growth, the new outlook amounts to a contraction next year and a very modest increase in spending thereafter. - The spending plan amounts to a new strategy for the oil major, which had been stubbornly sticking to aggressive growth plans despite strategy overhauls taking place at some of its top competitors. - Spending…

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Last updated : 04 Dec 2020 clock 09:45 PM

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The End Of Growth For U.S. Shale ...Middle East

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