Exxon to Hold Output at 20-Year Low to Address Debt, Emissions Bloomberg 3/3/2021 Kevin Crowley (Bloomberg) -- Exxon Mobil Corp. pledged to hold oil production at a two-decade low as part of a plan to reduce debt, boost dividends and address shareholders’ concerns about its record as one of America’s biggest corporate polluters. The oil giant will produce the equivalent of 3.7 million barrels a day by 2025, about the same level as this year, after aggressively cutting investment in new projects to focus on rebuilding cash flow. That’s down about 18% from Exxon’s 2011 peak, when it sat atop the S&P 500 Index, and the lowest since the late-1990s takeover of Mobil Corp., according to Bloomberg data. By contrast, Exxon’s pre-pandemic plan, first laid out to Wall Street three years ago, would have ballooned daily production to 5 million barrels.