The Wall Street Journal carried this report on Wednesday US time, posting here out of interest.
WSJ citing internal company documents:
- Exxon has trimmed its expectations for future oil prices for each of the next seven years by 11% to 17%, according to the documents.
- suggests the firm expects the fallout from the coronavirus pandemic to linger for much of the next decade
- also contending with increased competition from renewable-energy sources and electric vehicles, as well as the prospect of increased climate-change regulation around the world.
Exxon forecasts have been lower from previous, 2019, projections to:
- Brent oil prices to between $50 and $55 a barrel for the next five years
- topping out at $60 a barrel in 2026 and 2027
Link above for more (may be gated)
