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Oil giants cut costs and jobs as low prices threaten dividends, needing $80+ barrels to sustain payouts.
Major oil companies Chevron, ExxonMobil, BP, Shell, and TotalEnergies are cutting costs, reducing share buybacks, and planning job cuts as falling oil prices threaten their dividend payouts.
With Brent crude below $65 and forecasts predicting further declines, the firms face pressure to manage debt and sustain returns, as they need prices above $80 per barrel to maintain current payouts.
TotalEnergies is targeting $7.5 billion in cost savings by 2030, while BP and Chevron have already scaled back buybacks.
Shell has not changed its program, and over a dozen energy firms, including ExxonMobil and Shell, are cutting jobs in 2025 and 2026 amid shifting market conditions.
Los gigantes del petróleo recortan costos y empleos a medida que los bajos precios amenazan los dividendos, y necesitan más de $80 dólares por barril para mantener los pagos.