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After false dawn, Big Oil to double down on cost cuts
July 21, 2017 10:31 AM EDTBy Ron Bousso
LONDON (Reuters) - After a brief respite at the start of the year, the world's top oil and gas companies are set to double down on cost cutting as a recovery in crude prices after a three-year slump falters.
Corporate hopes were raised by a deal between members of the Organization of Petroleum Exporting Countries and other non-OPEC producers to cut production, which lifted oil prices above $58 a barrel in January, after they had slid to as low as $27 in 2016.
But Brent crude prices have since slipped back below $50 and banks have lowered price... More
