OIL & GAS
A negative oil and gas market outlook has forced US diversified miner Freeport-McMoRan (FCX) to pare the capital budget for its exploration and production arm and to defer investments in several long-term projects. The Phoenix, Arizona-based firm would also curtail output at certain of its copper and molybdenum assets, where it was reviewing operating and capital plans to strengthen its financial position in a weak copper-price environment.
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