Why Exxon Shares Are Up Despite First Annual Loss in Decades

The video discusses Exxon's market performance, highlighting a rise in shares due to a commitment to maintain high dividends. Despite a net loss of $22.4 billion due to asset write-downs, Exxon remains committed to its dividend strategy, which is one of the highest in the S&P 500. The company managed to generate enough cash flow to cover dividends and expects to maintain this as long as crude prices remain stable. Future projections indicate potential expense cuts if crude prices fall.

What factors are expected to influence Exxon's ability to cover its capital spending and dividends this year?

What was the average price of Brent crude oil mentioned in the text, and how does it relate to Exxon's financial strategy?