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Oil industry slipping into the red

Many top firms post Q3 losses; 2016 outlook grim

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Published Fri, Oct 30, 2015 · 09:50 PM

    London

    THE oil sector is gradually slipping into the red after years of fat profits as the slump in oil prices and a grim outlook bite deeper.

    The world's top oil companies have struggled in recent months to cope with the halving of oil prices since June 2014, cutting spending repeatedly, making thousands of job cuts and scrapping projects.

    oilOil prices

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