Investing.com - Exxon Mobil (NYSE:XOM) said on Wednesday its output would rise slowly through 2017 as it continues cutting costs
But the company said it could increase its spending if the right opportunities arose
Exxon said it expects its 2017 capital spending to be below its planned spending of $23 billion this year
It also said it is on track to start up 10 new oil and gas projects by end 2017, adding 450,000
barrels of oil per day to its production capacity
Oil prices have fallen around 70% since mid-2014, prompting major companies to slash budgets for expensive projects