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Extended slump in oil taking toll on industry, economy

2015-08-03 22:14:46| Chemicals - Topix.net

As drivers, shippers and airlines continue to enjoy lower fuel prices, the oil industry is responding to much lower profits with sharp cuts in spending and employment that are hurting economic growth. Low oil and gas prices are good for the overall economy because they reduce costs for consumers and business.

Tags: industry taking extended oil

US stocks end lower as energy stocks slump on earnings

2015-08-01 11:28:58| Chemicals - Topix.net

In this Oct. 8, 2014 file photo, a man walks to work on Wall Street, near the New York Stock Exchange, in New York. Global stocks were mixed on Friday, July 31, 2015, with China's stock market extending losses, after data showed the U.S. economy posted solid growth during the second quarter.

Tags: end lower energy stocks

Exxon, Chevron Brace for Dark Times Ahead as Earnings Slump

2015-08-01 04:54:43| Energy - Topix.net

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Exxon Mobil Corp. and Chevron Corp., the biggest U.S. energy producers, hunkered down for a prolonged stretch of weak prices after posting their worst quarterly performances in several years.

Tags: times dark ahead earnings