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Hess reports smaller quarterly loss on higher crude prices

April 26 U.S. oil producer Hess Corp reported a smaller quarterly loss on Wednesday, helped by an uptick in crude prices and lower operating costs.

The net loss attributable to Hess narrowed to $324 million, or $1.07 per share, in the first quarter ended March 31, from $509 million, or $1.72 per share, a year earlier.

Excluding production from Libya, net production was 307,000 barrels of oil equivalent per day (boepd) in the quarter, lower than 350,000 boepd a year ago. (Reporting by Swetha Gopinath and Arathy S Nair in Bengaluru; ; Editing by Shounak Dasgupta)

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