March 06, 2013 at 16:40 PM EST
Exxon Sees Oil Output Falling In '13, Then Rising
ExxonMobil (XOM) shares fell Wednesday after Chairman and CEO Rex Tillerson forecast its production will fall this year, which could drive up the price consumers pay at gas pumps this summer. But Tillerson told analysts at the company's annual meeting that growth will return quickly as the world's largest oil company ramps new projects including extraction from petroleum-rich U.S. shale fields, estimated among the world's largest. Exxon, Chevron
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