Exxon sees oil and gas output rising slowly through 2017

[NEW YORK] Exxon Mobil Corp said on Wednesday its oil and gas output would rise 2 per cent this year and 3 per cent in each of the following years as it spends about US$34 billion in 2015, down from a peak.

In 2014, Exxon produced 4 million barrels oil equivalent per day (boed) and it plans to ramp up to 4.3 million boed in 2017.

Exxon had already scaled back its spending plans. In a regulatory filing last week, it said it expected to spend about US$34 billion over the next several years, down from a prior forecast for capital expenditures around US$37 billion and less than US$42.5 billion in 2013.

REUTERS