American oil company expects to increase production by 2020

Given investor concern about its potential growth, Exxon Mobil, the largest oil company in the world with publicly traded, reported its short and long-term plans for the coming years. According to the US company, the growth projects are expected to increase the company's production by 2020 between 4 million and 4.4 million barrels of oil equivalent per day.

In 2016, Exxon produced 4.1 million barrels of oil equivalent per day. However, the company failed to replace 100% of its oil and gas reserves for new projects. In order to calm things down, the company did praise to their short-term projects started in North Dakota and Texas.

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