Oil and natural gas production in the U.S. will continue to soar through 2040 as energy firms start up more shale and deepwater production projects, according to ExxonMobil. Domestic energy use, meanwhile, is expected to fall in the same period, the company said in its energy outlook. Separately, an ExxonMobil executive said the Gulf of Mexico will continue to play a key role in the company's portfolio even after it unloaded 20 blocks in the region.

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