July 30, 2020 / 11:12 AM / in 14 days

ConocoPhillips posts adjusted loss on coronavirus-led oil price plunge

July 30 (Reuters) - U.S. oil and gas producer ConocoPhillips reported a quarterly adjusted loss on Thursday, as coronavirus-induced lockdowns sapped demand for fuel and crushed crude prices.

Adjusted net loss stood at $994 million, or 92 cents per share, in the second quarter ended June 30, compared with earnings of $1.14 billion, or $1.01 per share, a year earlier

Total production, excluding Libya, fell to 981,000 barrels of oil equivalent per day (boepd), down 309,000 boepd, as the company curtailed its output when prices fell.

Reporting by Nishara Karuvalli Pathikkal in Bengaluru; Editing by Shinjini Ganguli

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