Exxon to cut US production of oil in response to oil price plunge
Petrochemical giants including Exxon Mobil Corp. and Petronas Plc are planning to reduce production in the US in response a steep drop in the price of oil.The move follows Exxon Mobil’s announcement earlier this month that it will cut its US production by 30 percent to 3 million barrels a day.In a letter to the company’s shareholders this week, Petrona’s […]