You are here

Exxon slashes share buybacks to 14-year low

Exxon follows Chevron, ConocoPhillips and other oil titans in posting deep profit declines after a shale-driven supply glut helped hammer crude prices.


EXXON Mobil put investors on notice that it's scaling back measures to prop up the share price as shrinking production and tumbling crude prices squeeze cash flow needed to fund drilling and dividend payouts.

Exxon cut share repurchases for the current quarter to a 14-