Norway’s Statoil ASA fell deeper into the red in the third quarter, pledging to reduce capital spending by another $1 billion to cope with the lingering impact of low crude prices. Statoil’s wider loss and new cost-saving plan shows how the sector is finding it hard to put itself on a more stable footing even though oil prices have shown signs...

Source: Wall Street Journal October 27, 2016 07:29 UTC