Exxon Mobil corp to raise capital spending

The video discusses OPEC's current oil supply curtailment and its impact on the market. It highlights Exxon's strategy to increase oil production despite OPEC's pullback, focusing on cost-efficient projects in the Permian and Guyana. Exxon defends its plans by emphasizing its low production costs, which allow profitability even at lower oil prices. The company argues that its projects are necessary and suggests that higher-cost producers would need to adjust if there's an oversupply.

What is the main concern of the market regarding OPEC's current strategy?

• OPEC is increasing oil production.

• OPEC is focusing on renewable energy.

• OPEC is reducing oil production.

• OPEC is maintaining current production levels.

How does Exxon's approach to oil production differ from Chevron's recent strategy?

• Exxon is increasing its oil production.

• Exxon is reducing its oil production.

• Exxon is focusing on renewable energy.

• Exxon is cutting its capital spending.

What percentage of the world's oil supply does Exxon produce?

• 8%

• 3%

• 10%

• 5%

Where are Exxon's new low-cost projects primarily located?

• Saudi Arabia and Russia

• Permian and Guyana

• North Sea and Alaska

• Venezuela and Brazil

What is the potential impact on higher-cost producers if there is an oversupply in the market?

• They will increase production.

• They will maintain current production levels.

• They will have to reduce production.

• They will focus on renewable energy.