ConocoPhillips reported a wider-than-expected loss on Thursday, as the oil and gas producer was hit by a plunge in crude prices due to a short oil price war and coronavirus-induced lockdowns that sapped demand for fuel. The pandemic destroyed demand for oil and gas as travel and other businesses came to a halt under lockdowns, forcing widespread output cuts by producers due to oversupply. ConocoPhillips said it earned $23.09 for each barrel sold in the quarter ended June 30, compared with its realized price per barrel of $50.50 a year earlier. The world’s largest independent oil and gas producer sharply cut about a ... (full story)