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Commodities Briefing - Categorized | Oil, Price Watch more

Crude price fall forces oil industry into rethink

Posted on 22 December 2008

From Timesonline.co.uk: A sudden collapse in the price of crude oil is forcing energy companies to slash budgets and reduce exploration and oilfield development programmes.

The cutbacks in spending are expected to hit the American oil industry hard, according to a survey by Barclays Capital, which is forecasting that upstream budgets in the US oil and gas industry will be reduced by a quarter in 2009….. Full Article: Source


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