Saturday, August 16, 2025
Exxon’s credit rating outlook lowered by Moody’s on cash burn- oil and gas 360

Exxon’s credit rating outlook lowered by Moody’s on cash burn

Houston Chronicle Exxon Mobil Corp. had the outlook on its top-notch debt rating lowered by Moody’s Investors Service Inc. to negative due to a “substantial” cash burn to fund growth. The oil major’s credit metrics will probably weaken over the next few years as it pursues a rebuild of its upstream portfolio, as well as new chemical facilities and refinery

U.S. crude oil inventories increase by 1.4 million barrels

Weekly Crude Oil Storage as of November 15, 2019 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.4 million barrels from the previous week. At 450.4 million barrels, U.S. crude oil inventories are about 3% above the five year average for this time of year, according to the EIA crude oil and petroleum weekly