An oil price plunge means the world's top energy companies will have to rev...
LONDON - An oil price plunge means the world’s top energy companies will have to review promises to return billions to investors, either by slowing down share buybacks or reintroducing non-cash dividends, analysts said on Monday.
The Brent benchmark has fallen by as much as a third since Thursday, just before Russia walked away from an agreement by the Organization of the Petroleum Exporting Countries to cut output. The oil majors were entering “survival mode” in these market conditions and will have to assess where they can cut spending, Jefferies analyst Jason Gammel said in a note.
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