Chevron leads another wave of massive oil-industry spending cuts
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(Reuters) - Chevron Corp cut its capital spending budget by $4 billion (3.4 billion pounds) on Tuesday, leading a wave of cost-cutting announcements across the reeling oil-and-gas industry as the coronavirus pandemic has slashed demand and triggered a dramatic slide in oil prices.Crude oil prices have crashed by 60% since January as Saudi Arabia and Russia pump full bore to grab share in a dwindling market, and gasoline and jet fuel use has slumped. Demand worldwide is expected to fall by more..