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Exxon Mobil Posts Record Profit
Exxon Mobil Corp., the world’s largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.
Yet numbers contained within the company’s most recent financial report revealed production numbers that continue to [...]

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Oil’s ups and downs
The price of oil has plummeted by more than half since it soared above $147 a barrel in July, and gasoline prices have tumbled almost as dramatically, from a high of $4.11 a gallon for unleaded regular in July to a national average of $2.67 a gallon on Monday.
So where’s the [...]

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Global share markets have fallen back amid investors’ widening fears of a sustained worldwide economic recession.
Wall Street tumbled sharply following similar falls across Europe and Asia, before clawing back some ground.
The Dow Jones Industrial Average closed 3.6% down having gone more than 5% lower in early trading while the Nasdaq index finished 3.2% down.
On European [...]

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OPEC on Friday said it would slash oil production by 1.5 million barrels a day beginning next month to compensate for plunging prices amid falling worldwide demand.
Fears of a global recession have sent the price of oil below $70 per barrel in recent days, a 50 percent drop from its record highs in the [...]

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