Exxon Mobil Corp said spending will decline about 11 percent this year to around $34 billion due to plunging oil prices, according to a regulatory filing this week. Smaller oil and gas companies have been making cuts to capital expenditures that generally range from 20 percent to 50 percent in response to a more than 50 percent drop in crude oil prices from June. Spending cuts at the largest global oil companies such as Exxon have not been as drastic. Another supermajor, Chevron Corp , said its capital spending would fall 13 percent this year. “Major oil companies are much less reactionary because they have a longer-term view on price,” Denham Capital Technical Director Samantha Holroyd, told a forum […]