Exxon Mobil CEO Darren Woods told the CERAWeek energy conference Monday that producers are trying to ramp up production, but that doing so was tough even before the Ukraine crisis.
"Exxon is working to maximize production to help fill the world's increasing demand for oil as production declines in Russia," Woods said, speaking at the CERAWeek by S&P Global conference in Houston.
"These efforts coincide with Exxon's existing goals to increase production in the Permian Basin with significant equipment changes. It’s a pretty big effort, but one we’ve been on for quite some time, I know that others in the industry are pursuing similar types of objectives."
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