Saturday, August 15, 2026
Oil rebounds on potential for further OPEC+ supply cuts- oil and gas 360

Oil rebounds on potential for further OPEC+ supply cuts

Reuters LONDON  – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak. Brent crude was up 93 cents, or 1.7%, at $55.38 a barrel by 1335 GMT, while U.S. West Texas Intermediate (WTI) crude stood at $51.31 after a 2.4%

ConocoPhillips' fourth-quarter profit plunges by 60%-oil and gas 360

ConocoPhillips’ fourth-quarter profit plunges by 60%

Houston Chronicle ConocoPhillips’ fourth-quarter profit declined by more than 60 percent, to $720 million from $1.9 billion in the same period last year, amid weaker oil prices and production outputs. Revenue during the quarter dropped by more than 20 percent to $8.1 billion. For the full year, net earnings jumped 15 percent to $7.2 billion compared with $6.3 billion in