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Oil majors slash 2020 spending 20% after prices slump

FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in
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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 $25 billion, or a drop of 20% from..
Date Published: Mar 26, 2020
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