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Despite boom, higher costs push Big Oil into slump

August 2, 2013
By JONATHAN FAHEY , THE ASSOCIATED PRESS

NEW YORK - New troves of oil have been found all over the globe, and oil companies are taking in around $100 for every barrel they produce. But these seemingly prosperous conditions aren't doing much for Big Oil: Profit and production at the world's largest oil companies are slumping badly.

 
 
 

 

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