Oil majors slash 2020 spending 18% after prices slump
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LONDON (Reuters) - The world's biggest oil and gas companies are slashing spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the top exporters Saudi Arabia and Russia.Cuts already announced by five major oil companies including Saudi Aramco and Royal Dutch Shell come to a combined $19 billion (16 billion pounds), or a drop of 18% from their initial spending plans of $106 billion.Norway's Equinor said on Wednesday it..