Consumers must be prepared to endure up to five years of turbulent oil markets, the head of ExxonMobil said Tuesday, citing under-investment and the coronavirus pandemic.
Speaking ahead of ExxonMobil's unveiling as the fourth international partner for Qatar's natural gas expansion, chairman and chief executive Darren Woods said major uncertainty lies ahead.
"You are probably looking at three to five years of continued fairly tight markets," Woods told the Qatar Economic Forum. "How that manifests itself in price will obviously be a big function of demand, which is difficult to predict."
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