Oil giants must cut output by a third to meet climate target – study

Seven largest companies must make 35% cut by 2040 to limit climate crisis and meet 1.5C goal, says thinktank

The world's largest oil and gas companies need to slash their production by more than a third by 2040 to meet global climate targets, according to a new report.

The seven listed oil majors - including ExxonMobil, BP and Shell - would need to cut the total amount of oil and gas they produce every day by 35% to avoid driving temperatures 1.5C higher than pre-industrialised levels.