Exxon Mobil Corp. and Chevron Corp. are likely to shoulder more of the Permian Basin’s oil growth as independent producers cut back due to falling crude prices.

Exxon Mobil and Chevron are pushing back on “shortsighted” investors and maintaining their growth plans even as they feud with each other.

Big Oils Q1 earnings reveal a divergence in strategy as companies navigate falling crude prices, which hit a four-year low in April. Exxon Mobil and Shell maintained robust share buyback programs, signaling confidence