(Bloomberg) — Exxon Mobil Corp. is slowing the pace of its flagship shale project in the Permian Basin, one of the first signs that the oil majors are throttling back on production in response to the recent slump in prices.The U.S, energy giant said Thursday in a slide presentation that it will operate at a “reduced pace” this year and next compared with its prior outlook. The company sees output from the basin in West Texas and New Mexico at about 360,000 barrels of oil equivalent a day in 2020, but stuck to its long-term plan to almost triple production …read more
Source:: Yahoo Finance
