ConocoPhillips raises 2021 budget, flags virus-fuelled demand weakness

Top U.S. shale oil producer ConocoPhillips raised its capital budget for 2021 on its mega-deal with Concho Resources, while warning oil demand remains subdued as the world reels from the impact of COVID-19. BP , Chevron and Exxon Mobil posted multi-billion-dollar annual losses on pandemic-related price declines and assets writedowns. ConocoPhillips lost $2.7 billion for …

The post ConocoPhillips raises 2021 budget, flags virus-fuelled demand weakness first appeared on Hellenic Shipping News Worldwide.

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