No Oil Market Rebound, Exxon via Bloomberg

From Exxon’s CEO:

““We’re still oversupplying a market that doesn’t need it, doesn’t want it,” Tillerson told analysts at the New York Stock Exchange on Wednesday. “Global economic conditions are not inspiring. I don’t think we can look to the demand side of this market to solve this problem for us.””

Here is the link:  http://www.bloomberg.com/news/articles/2016-03-02/exxon-mobil-plans-to-reduce-capital-spending-through-end-of-2017

Of course, we know how difficult it is to predict markets long and short  term:

This is from the WSJ in December, 2009:

“Exxon Mobil Corp. placed a $31 billion bet that natural gas will play a critical role in the world’s future energy needs, saying it would purchase XTO Energy Inc. in an all-stock deal.”

http://www.wsj.com/articles/SB10001424052748704869304574595710440167726

Natural gas prices are more than half of what they were in 2009… Like I said, predicting price trends, trading commodity markets ain’t easy…