Exxon posts third consecutive loss

On Friday (30), Exxon Mobil Corp. announced another consecutive quarterly loss, given the impacts that the pandemic of Covid-19 brought to the demand of the oil sector and energy prices.

The largest U.S. oil producer also said it plans to cut its investments in 2021 to between $16 billion and $19 billion, up from planned $23 billion this year.

The company also said it was reassessing its natural gas reserves in North America and could hold a low of about $25 billion to $30 billion — but only if it changes its long-term development plans. You're evaluating these assets this quarter.

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