ConocoPhillips To Restart Part Of Curtailed Oil Production

ConocoPhillips expects to start bringing back in July part of the oil production it had curtailed in the second quarter in response to the low oil prices, the U.S. oil company said on Tuesday. In April, when oil prices slumped to the low teens amid crashing demand in the pandemic and the Saudi pledge to flood the market with oil, ConocoPhillips reduced its 2020 capital expenditure for the second time in one month and announced curtailments of some oil production in Canada and the U.S. until market conditions improve.  …