Exxon Mobil forecasts 2019, 2020 capex of up to $65 billion

Exxon Mobil Corp expects its 2019 and 2020 capital expenditure to be between $63 billion and $65 billion, the U.S. oil major said on Wednesday.

Exxon, which had forecast capital spending of $30 billion for 2019, has been under pressure from investors to rein in expenses as certain deals and large-scale projects continue to strain the company’s cash flow.

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