Despite President-elect Donald Trump’s vow to drill more for oil and gas, an executive with oil giant Exxon said that petroleum producers are unlikely to radically increase production as companies remained focused on capital discipline.
“We’re not going to see anybody in ‘drill, baby, drill’ mode,” Liam Mallon, head of Exxon’s upstream division, told the Energy Intelligence Forum conference in London on Tuesday, quoting Trump’s election promise to expand drilling once in office. “A radical change [in production] is unlikely because the vast majority, if not everybody, is focused on the economics of what they’re doing.”…