oil companies

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Oil groups suffer further losses on FTSE as oil price dips to seven year low

London’s blue chip share index remained in negative territory as details of a radical restructuring at mining giant Anglo American compounded falls in the under-pressure commodities sector. Anglo saw its shares fall 10% to a new record low after it suspended its dividend for the first time in eight years and unveiled a major overhaul - including another 67,000 job losses next year.