Exxon Lowers Oil Price Outlook for Much of the Next Decade

U.S. oil major Exxon has lowered its expectations for oil prices for much of the next decade, the Wall Street Journal reported on Wednesday, citing internal company documents.

As part of an internal financial-planning process conducted this fall, the company has cut its outlook for future oil prices for each of the next seven years by 11% to 17%, the report said.

(Reporting by Arundhati Sarkar; Editing by Arun Koyyur)