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America's oil states show early signs of slowdown

Many companies have announced layoffs and are cutting spending plans

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Published Mon, Dec 15, 2014 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Los Angeles

    AFTER leading the US economic recovery out of recession, some of the nation's top oil states are showing early signs of a slowdown as a result of the plunge in crude prices.

    In Houston, Texas, the first oil industry layoffs have been announced, with realtors there predicting a sharp decline, up to 12 per cent, in home sales next year.

    oil

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