ExxonMobil Posts Third Straight Quarterly Loss But Seeing Early Demand Recovery

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Exxon Mobil on Monday said it was writing down some of its natural gas assets by as much as $20 billion and was cutting spending next year to its lowest level since 2005. Pioneer Natural Resources (remember them from the OPEXAS days?) said it doesn’t expect demand to return to “normal” until 2022.

In a nod to early this year when Pioneer was calling for extraordinary control to prop up the oil sector, Pioneer CEO Scott Sheffield said the oil industry will “still need some help from OPEC.”

The Daily Dose; November was so last week.