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America's oil states show early signs of slowdown

Many companies have announced layoffs and are cutting spending plans

The number of well permits fell almost 40 per cent nationwide in November, according to industry data firm Drilling Info Inc, which means fewer jobs and less related business.

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...

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