April 26, 2018 / 11:09 AM / 7 months ago

ConocoPhillips quarterly profit jumps 52 percent

HOUSTON, April 26 (Reuters) - U.S. oil producer ConocoPhillips said on Thursday its first-quarter profit jumped 52 percent due to rising crude prices and cost cuts.

The company posted earnings of $888 million, or 75 cents per share, compared to $586 million, or 47 cents per share, in the year-ago quarter.

Production fell 23 percent to 1.2 million barrels of oil equivalent per day. (Reporting by Ernest Scheyder)

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