Crude prices have collapsed in the past six weeks as the coronavirus outbreak hit demand and a price war broke out between Russia and Saudi Arabia, prompting companies to slash spending and curb output. Production excluding Libya for the first quarter was 1.28 million barrels of oil equivalent (BOE) per day, a decrease of 40,000 barrels of oil equivalent per day from the same period a year ago. ConocoPhillips said the total realized price per barrel was $38.81 in the quarter compared with $50.59 a year ago. …read more
Source:: Yahoo Finance
