The sharp decline in crude oil prices will lead to a “sorting out” of the shale oil sector, Rex Tillerson, Exxon Mobil’s CEO, said on Wednesday in a television interview. “A lot of people have entered this space — there will be some sorting out,” he told CNBC, when asked if the lower oil price could put pressure on smaller unconventional players in the United States. Tillerson said he was comfortable with Exxon’s exposure to the sector. “We are a big investor in shale in the United States, and we have been expanding our title in the space.” The slump in the price of crude oil, which has seen Brent fall around 38 percent since June, has prompted concern that some shale oil production will become unprofitable, and may lead to problems for some players in the sector. He said that the reason for […]