Exxon Reassures Investors On Downturn

Exxon Mobil Corporation (NYSE:XOM) CEO Rex Tillerson made a statement this morning asserting that the firm would remain buoyant despite the vulnerabilities of the global oil market. Prices of crude fell to their lowest point in 16 months yesterday as sluggish demand impacts the sector.

Tillerson said that the company would continue to fund all of its investment funds and that there was no expectation of a long term effect from the current lows. World wide energy demand is falling due to decreased demand from Europe and some emerging economies where growth has not been as expected.

Libya's return to normal production has increased the supply...