(AP Photo/Mandel Ngan, Pool)

Obama’s chief economist says oil price drop offsets slowdown overseas

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The annual Economic Report of the President, to be released Thursday, projected 3 percent annual growth this year.
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EOG earnings down 23 percent

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EOG Resources, one of the biggest winners in the shale boom, saw its quarterly profits fall 23.4 percent as it became the latest company to suffer the effects of falling crude oil prices.
Lee Tillman, of Marathon Oil Company, delivers remarks in  the Unconventional Impact Pane during the Offshore Technology Conference at NRG Park on May 5, 2014, in Houston, Tx. (Mayra Beltran/Houston Chronicle)

Marathon cuts 2015 capital spending by another $1 billion

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The cut is the second the company has made since crude prices began falling last summer.
yellow oil barrel

Commentary: the US crude conundrum

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The current US oil market is in the midst of a slugfest reminiscent of a Rocky fight, as competing influences face off against one another, says Voices poster Matt Smith.. In one corner we have rising US shale oil production, while in the opposing corner we have a precipitously falling rig count.
Workers prepare drilling pipe on the Petroleos Mexicanos (Pemex) La Muralla IV deep sea crude oil platform in the waters off Veracruz, Mexico, on Friday, Aug. 30, 2013. (Susana Gonzalez/Bloomberg)

Mexico puts some deep-water oil on hold amid crude’s slide

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Petroleos Mexicanos director Emilio Lozoya says deep-water projects that have not already begun will be delayed.
(AP Photo/Hasan Jamali, File)

Oil resumes price fall after hitting high for 2015

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Oil prices are falling again in anticipation of growing U.S. supplies and a global glut.
Iran's supreme leader, Ayatollah Ali
Khamenei (Bloomberg News/ILNA/document IRAN)

Iran’s Khamenei threatens to halt oil sales if sanctions persist

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Iran’s economy has languished under sanctions imposed over concerns that its nuclear program could lead to the development of atomic weapons.
Technip CEO Thierry Pilenko speaks to journalists in October 2013. (Gary Fountain/for the Houston Chronicle)

Technip promises revenue growth in 2015 amid oil-price slump

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Technip said it adapted to the challenging conditions in the oil industry by cutting costs, reducing headcount and streamlining its fleet of vessels.
(AP file photo/John Moore)

World’s largest oil exporter said to seek $10 billion

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The rapid decline in oil prices since June last year may encourage a wave of consolidation and acquisitions in the energy sector.
(Kristian Helgesen/Bloomberg)

Norway rejects call to cut oil taxes as cure for crude crash

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Oil companies in the country are preparing to cut investment by 15 percent this year.