CEO Patrick Pouyanne said the company’s priority was "value over volume", adding that oil sands were among the high breakeven projects in Total's portfolio.
"My belief is that the most important factor in the gold price, is global faith in the purchasing power of the US dollar, and faith in US Treasury securities."
Jeremy Corbyn, whose Labour Party came second in the 2017 UK general election, has reached out to communities hit hard by the downtown in the coal and steel industries.
A report by the Centre for International Governance Innovation argues the global push to reduce carbon emissions over the next three decades will reduce the size of future oil markets.