Exxon To Announce $34B Capex Budget: UBS

Exxon Mobil Corp. is slated to host an analyst day in New York on Wednesday and analysts at UBS are expecting the energy company to announce a 2015 capital expenditure budget around $34 billion, or 12% lower than last year's. Exxon's oil and gas production is likely to be 3% higher this year, the UBS analysts said. The company will also provide guidance on how much debt it is willing to add to its balance sheet to maintain its share buyback program amid the lower oil prices and comments on its asset sales plan, they said. Shares of Exxon down 0.1%.