Tuesday, July 14, 2026
ConocoPhillips posts worse loss than feared on oil price plunge, shares fall- oil and gas 360

ConocoPhillips posts worse loss than feared on oil price plunge, shares fall

Reuters ConocoPhillips reported a wider-than-expected loss on Thursday, as coronavirus-induced lockdowns sapped demand for fuel and crushed crude prices, sending shares of the world’s largest independent oil and gas producer down nearly 9%. The pandemic brought travel and other businesses to a halt under lockdowns and led to a glut of oil and gas, forcing widespread output cuts by bleeding

Oil down nearly 4% as virus surge weighs on demand outlook

Reuters LONDON – Oil prices fell by around 4% on Thursday, as surging coronavirus infections around the world threatened to jeopardise a recovery in fuel demand just as major oil producers are set to raise output. U.S. West Texas Intermediate (WTI) crude futures were down $1.52, or 3.7%, at $39.75 a barrel at 1401 GMT. The most-active Brent crude contract