Petroleos de Venezuela SA cut 2015 capital spending as the state oil company grappled with crude prices that last month extended a decline to the lowest in almost 13 years. PDVSA reduced spending by as much as $2.5 billion, or 15 percent, last year, Strategy Director Sergio Antonio Tovar said on the sidelines of an oil conference in London. He didn’t rule out further cuts this year. “If the current oil price level stays the same, PDVSA, as other oil companies, will have to tighten its belt,” Tovar said. It’s the first time since 2014 that PDVSA […]