“I expect continued inhibition to movement, and even after things are cleared up it will take time for people to regain confidence and ramp back up to prior high levels.”

In context

“Darren Woods (Chairman and Chief Executive Officer (CEO)): Yes, sure. Arun, thanks for your question. I don't have much additional perspective on the ground about what's happening in the Strait; it's been well covered in the media. My discussions with the administration tend to focus on our market perspective and the implications of constrained supply and how that will manifest. As a major supplier, ultimately it's up to the shipping companies and the crews to make those transits. The more volatility, disruptions and attacks there are, the more uncertainty and concern, and the less willingness there will be to transit. I expect continued inhibition to movement, and even after things are cleared up it will take time for people to regain confidence and ramp back up to prior high levels. We're prepared for that. Regarding our presence and work with Qatar, I come back to the medium- to long-term fundamentals: the world needs the resources in that region and needs the Strait open and transiting at the levels seen before this conflict. We are convinced that will happen at some point, though we cannot predict exactly when or how. It is too critical to the global economy and to people's standards of living to be disrupted permanently. We have a long relationship with Qatar Energy and value the partnership. We're in dialogue with Qatar Energy about how we can help expedite the repairs and believe we can play a significant role. We're discussing the best approach so that Qatar Energy and the people of Qatar benefit and ExxonMobil benefits as well. Qatar Energy recognizes the importance of win-win solutions and is focused on finding the path forward to get production back on and flowing as soon as possible.”