ExxonMobil announced plans on Wednesday to raise its oil and natural gas production by 18% by 2030, investing between $28 billion - $33 billion annually.

Exxon Mobil plans to invest heavily into several big projects over the next six years, even as some other oil companies are growing more cautious, the company said at an investor day on Wednesday. All that investment comes at a time when most analysts expect oil prices to fall next year because of a glut—which may be why Exxon stock was down 0.