Exxon Production to Fall 1 Percent in 2013

Reuters reported that Exxon expects their production to fall by 1 percent in 2013 before ramping up again.

As quoted in the market report:

The world’s largest oil companies have struggled to increase oil and gas output, forcing them to invest record amounts of capital to tap into difficult-to-reach fields. Those big investments do not yield immediate growth, forcing the companies to focus on wringing the most from every dollar by improving operations through efficiency or technology.

To view the whole Reuters report, click here.