Stay Clear of Exxon Mobil Stock as It Struggles to Protect the Dividend
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Speaking of oil prices, the recovery hasn't been sharp enough to prevent Exxon from issuing some gloomy commentary. In a recent regulatory filing, the oil major said that if prices don't rally some more – it didn't say by how much – before the end of 2020, it could be forced to write-off 20% of output, or the equivalent of 4.5 billion barrels of crude.
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