Exxon sees 2014 spending lower at $39.8 billion

Reuters

NEW YORK, March 5 (Reuters) - Exxon Mobil Corp, the world's largest publicly traded oil company, expects to spend less this year while oil and natural gas production is forecast to be flat.

Exxon sees spending of $39.8 billion in 2014, down from a peak of $42.5 billion last year.

Exxon expects to bring 10 major projects into production in 2014. Oil and gas output is expected to grow 2 percent to 3 percent from 2015 to 2017, the company said ahead of its annual investor meeting.

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