Quartz·1 min read·medium
ConocoPhillips's profit surged as climbing oil prices offset a production drop
✦AI Summary
ConocoPhillips reported adjusted earnings of $3.24 per share, exceeding analyst expectations. The profit surge was driven by a 36% increase in average realized oil prices, which successfully offset a decline in production volume.
The oil and gas producer posted adjusted earnings of $3.24 per share, topping analyst estimates, as average realized prices jumped 36%
businesseconomy
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