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ExxonMobil’s Global Natural Gas, Oil Strategy Holding Steady Even at $50 Crude, Says Woods

Natural Gas Intelligence · last updated

ExxonMobil may be buffeted by tariffs and unsure government policies, but even if there were a sharp reduction in natural gas and oil demand similar to Covid-19, the company would not be thrown off course, according to CEO Darren Woods.

Graph showing ExxonMobil's natural gas demand estimates.

Speaking at the annual shareholder meeting in late May, Woods said the company was built to hold steady in reaction to any volatility in the markets.

Several institutional investors asked about plans to navigate in the “current market conditions.” Many wanted to know if ExxonMobil plans to adapt its strategy if, for example, crude oil prices were to continue to deteriorate.

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