Texas oil sector slowing down

April 17, 2015 12:45 PM

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Texas oil sector slowing down

Capital spending expected to decline by at least 30 percent.

The Dallas bank released its so-called Beige Book, noting employment in most industries held steady or increased in March. Oil field services companies like Schlumberger, however, were cutting staff in response to a slowdown in the energy sector.

Also read: GE in talks to buy oilfield services provider Baker Hughes: WSJ

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