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Moody’s downgrades Saudi Arabia on lower oil prices

Saudi Arabia, oil prices

NEW YORK (AP) — Saudi Arabia’s credit rating has been downgraded by Moody’s because of the long and deep slump in oil prices. Moody’s Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar. Saudi Arabia is the world’s largest oil exporter. Moody’s cut ...

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Mexico remittances nearly $24.8B in 2015, topping oil income

Mexico remittances nearly $24.8B in 2015, topping oil income

MEXICO CITY — The central bank reported Tuesday that remittances, money sent home by Mexicans overseas, hit nearly $24.8 billion last year, overtaking oil revenues for the first time as a source of foreign income. Remittances were up 4.75 percent from 2014 when they totaled $23.6 billion, the Bank of Mexico said. They had never before surpassed petroleum since the ...

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Global stock markets slide, oil falls below $30 a barrel

Global stock markets slide, oil falls below $30 a barrel

U.S. stocks tumbled in morning trading Friday as the price of crude oil dropped below $30 a barrel, pulling energy company shares sharply lower. Discouraging data on retail sales and manufacturing also weighed on the market. The market slide was broad, with financial and technology stocks among the biggest decliners. KEEPING SCORE: The Dow Jones industrial average slid 401 points, ...

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Wyoming natural gas production falls for sixth year

CASPER, Wyo. (AP) — Production from Wyoming’s natural gas fields fell in 2015 for the sixth consecutive year, while natural gas in the U.S. has been on the rise. The Casper Star-Tribune reports (http://bit.ly/1Z8wGZ3 ) that production slumped 14 percent in 2015. According to the preliminary figures from the Oil and Gas Conservation Commission production levels fell to the smallest ...

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Quiet hurricane season leaves oil oversupply

A quiet Atlantic hurricane season in the Gulf of Mexico ended Monday without a storm-induced price rise to lift crude oil from its slump. Tropical Storm Bill made landfall on Matagorda Island, Texas, on June 16. It was the only system to hit the Gulf of Mexico in 2015. Bill brought coastal flooding and gusty winds to the Texas coast ...

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