ExxonMobil: to significantly cut spending due to pandemic

(CercleFinance.com) - ExxonMobil is looking to significantly reduce its spending as a result of market conditions caused by the COVID-19 pandemic and the collapse of commodity prices, the US oil company said late on Monday.


Citing an "unprecedented environment," the energy giant said that it is evaluating "all appropriate steps" to reduce its capital and operating expenses in the near term.

The company said it will outline its plans once they are finalized.

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