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Oil firms scramble to cut costs everywhere amid low prices
Published Sun, Jun 7, 2015 · 09:50 PM
London
THE slump in crude prices has jolted the oil industry into deep cost cutting which, unlike the previous downturn, could last for a few years at least.
After overspending by the industry during the boom years, the collapse in prices in the second half of last year laid bare the need to reduce costs and introduce efficiencies.
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