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No oil industry downturn in sight despite oil price slump

A survey conducted by the Federal Reserve Bank of Dallas found that oil and natural gas executives don't expect the oil price crash late last year to lead to another industry downturn this year, although growth could taper off. Seventy percent of respondents said 2019 capital budgets will either remain the same or exceed 2018 spending levels, while 64% see oil prices at or above the $60-per-barrel mark by the end of 2019.

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