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ConocoPhillips trims 2021 capex, sees higher savings from Concho deal

June 30 (Reuters) - ConocoPhillips on Wednesday trimmed its spending plans for the year and forecast higher savings from its deal to buy Permian basin-focused Concho Resources.

The top U.S. independent producer, which bought Permian basin-focused Concho Resources for about $10 billion in January, said it expects to save about $1 billion annually from the deal, compared with its previous forecast of $750 million. (Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

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