ConocoPhillips posts adjusted loss on coronavirus-led oil price plunge

(Reuters) – U.S. oil and gas producer ConocoPhillips (NYSE:) 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.

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