New York (Platts)--5Mar2008

A weak dollar, geopolitical concerns and market speculation are driving
the disconnect between oil supply/demand fundamentals and record high prices,
ExxonMobil CEO Rex Tillerson said Wednesday.

Tillerson, speaking to reporters at the New York Stock Exchange, also
said world markets are not short of oil.

"The market has remained well-supplied. There has been no disruption in
supply," he said. "This concern about supply reliability has been overblown."

Tillerson added that while record high oil prices "has not had the kind
of demand response many of us anticipated" worldwide, he noted demand has
taken a hit in the US.

Front-month NYMEX crude hit $104/barrel for the first time earlier
Wednesday.

--Kevin Saville, kevin_saville@platts.com