Exxon Bets on Lithium To Complement its Legacy Oil Business

ExxonMobil joined major lithium producers this week in reiterating a bullish outlook on long-term lithium demand despite the current bearish market and recent price slump of the metal critical for the energy transition. Lithium prices have crashed in recent months, dragged down by piling inventories amid slowing growth in electric vehicle sales. Lithium producers said earlier this year that the current low-price environment is "unsustainable" and could hold back investments in new supply. However, all lithium producers, including the…