Oil giant ExxonMobil has announced it will be cutting 300 positions, around 7% of its workforce at its Singapore plant this year due to "unprecedented market conditions". ExxonMobil is one of Singapore’s largest foreign investors, so what does this scaling back potentially mean for the domestic oil market? Suvro Sarkar, Energy Sector Team Lead, Group Research, DBS Bank gives his analysis and share more on whether oil players are adapting to renewables fast enough.

<p>Oil giant ExxonMobil has announced it will be cutting 300 positions, around 7% of its workforce at its Singapore plant this year due to "unprecedented market conditions". ExxonMobil is one of Singapore&rsquo;s largest foreign investors, so what does this scaling back potentially mean for the domestic oil market? <strong>Suvro Sarkar, Energy Sector Team Lead, Group Research, DBS Bank&nbsp;</strong>gives his analysis and share more on whether oil players are adapting to renewables fast enough.</p>

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