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Oil price slump to hit majors’ earnings

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WEDNESDAY 22 OCTOBER 2014

Reuters is reporting that oil companies have seen billions wiped off their stock market values as crude prices dropped over the past four months by 25 percent to a four-year low near $85 a barrel, due to slowing global demand particularly in China and ample supplies. Shares of BP, Royal Dutch Shell, Eni , Total and BG have dropped by 15 to 20 percent since late June.

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