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Oil firms slash spending, jobs as prices slide for second time

Chasing growth in this environment would make no sense: Anadarko Petroleum Corp

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Published Fri, Jul 31, 2015 · 09:50 PM

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

    Houston

    THE stark reality of a much-feared second dip in crude prices is prompting global oil majors and nimble US shale companies alike to axe spending once again a year after the first price crash started.

    Just days into the second-quarter earnings season, Chevron Corp and Royal Dutch Shell plc said they would slash a combined 8,000 thousand jobs around the world.

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