Oil companies trim drilling budgets in sign of rising caution
Oil companies are slashing their capital spending plans in an effort to cope with oil prices which are below USD 50.
![Photo: PR/Statoil](https://photos.watchmedier.dk/watchmedier/resize:fill:3840:0:0/plain/https://photos.watchmedier.dk/Images/article9007535.ece/ALTERNATES/schema-16_9/Gj%25C3%25B8a-feltet.jpg)
BY ALEX NUSSBAUM, BLOOMBERG
Caution lights are flashing for the oil industry.
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