Exxon CEO: Weak Dollar Adding $20 to Oil


The oil market is well supplied, with inventories at record levels globally, and the market continues "to be a bit soft," but prices are getting a big boost from the dollar's fall, Exxon Mobil CEO and Chairman Rex Tillerson told CNBC Friday.

"If you put the price of oil, which is priced in dollars around the world, and if you look at what some of the currency effects are with the weak dollar — in our view that is contributing about $20-25 a barrel to the price," he said.

Show commentsHide Comments

Latest Markets Videos

Search Stock Quotes
Commodity Prices
Video Archives
Partner Videos