February 27, 2020 / 5:41 PM / 4 months ago

Continental Resources sees further oil and gas demand hit from coronavirus

Feb 27 (Reuters) - Continental Resources Inc sees the oil and gas market as fundamentally oversupplied, with demand even further impacted by the coronavirus, legendary U.S. oilman Harold Hamm said in a post-earnings call with analysts.

"In this current price environment, we are moderating our near-term growth and keeping capital spend flat year-over-year," said Hamm, who stepped down as chief executive officer at the end of last year to become executive chairman.

The coronovirus has mainly battered China, causing 2,746 deaths. It has spread to 44 countries with 3,246 cases and 51 deaths reported and fanned fears that a pandemic could slow the global economy and hit crude demand.

Reporting by Shanti S Nair in Bengaluru

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