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With crude at $50, oil firms fear deeper crisis than in 1980s

2015-08-05 19:26:58| Energy - Topix.net

After slashing spending by $180 billion to deal with one of the worst industry downturns in decades, oil companies are still bleeding cash and slipping further into debt to maintain dividends to shareholders. Depressed crude prices - at below $50 a barrel Brent crude is half what it was a year ago - mean even more cuts are needed at new projects and existing operations.

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