Oil price collapse hammers big US energy groups

ExxonMobil and Chevron results blow follow huge job cut announcements in Europe
A droplet of petroleum drops from a fuel nozzle at Royal Dutch Shell Plc's 150th gas station on its opening day in Moscow, Russia, on Wednesday, July 8, 2015. The global industry is scurrying to respond as oil below $50 a barrel guts cash flows. Photographer: Andrey Rudakov/Bloomberg

Shares in some of the world’s biggest energy groups tumbled on Friday as the collapse in oil prices battered the profits of ExxonMobil and Chevron, capping a week in which European rivals announced thousands of job losses and slashed spending by billions of dollars.