General Electric Co Chief Executive Jeff Immelt speaks at a news conference in Boston, Massachusetts, in this April 4, 2016, file photo. REUTERS/Brian Snyder/Files

General Electric Co Chief Executive Jeff Immelt speaks at a news conference in Boston, Massachusetts, in this April 4, 2016, file photo. REUTERS/Brian Snyder/Files (Copyright Reuters 2016)

GE's CEO says oil, gas drag to continue, forex headwinds to ease

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General Electric Co expects weakness in oil and gas revenue to continue to drag on its results, but headwinds from foreign exchange translation should ease, Chief Executive Officer Jeff Immelt said on Friday.

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The diversified industrial company sees scope to continue cutting costs and remains on track to deliver $2 per share in adjusted earnings in 2018, Immelt said during a conference call following the release of GE's third-quarter earnings.

(Reporting by Alwyn Scott; Editing by Bernadette Baum)