Exxon pledges 'significant' cut to spending amid coronavirus, unrelenting oil price slide

Exxon Mobil on Monday said it will make "significant" cut to spending in the face of the unprecedented slide in oil prices due to the coronavirus outbreak.

The largest U.S. oil producer is reevaluating an about $33 billion capital spending budget set when prices were higher, and will details specific cuts later, chief executive Darren Woods said in a statement.