TotalEnergies to cut capital expenditures by $1 billion per year, in latest sign of thrift in oil industry

Core Viewpoint - TotalEnergies, a French integrated oil company, announced a reduction in capital expenditures by $1 billion per year, reflecting ongoing cutbacks within the industry [1] Group 1: Company Actions - TotalEnergies is implementing a $1 billion annual reduction in capital expenditures [1] Group 2: Industry Trends - The announcement by TotalEnergies is part of a broader trend of cutbacks being made across the oil industry [1]