Oil prices are down over 20% this year and natural gas prices have touched their lowest in decades, as fears of the economic impact of the coronavirus dent short-term demand. Exxon’s Chief Executive Officer Darren Woods said the company would spend between $30 billion and $35 billion a year through 2025 and forecast $33 billion in capital expenditure this year. On Tuesday, Exxon’s closest U.S.-rival Chevron showed off its own war chest by highlighting it has up to $80 billion that it could use for shareholder returns over the next five years regardless of the price that oil …read more
Source:: Yahoo Finance
