August 1, 2018 / 8:40 PM / 4 months ago

Marathon Oil posts quarterly profit on higher production, oil prices

(Reuters) Aug 1 - U.S. oil producer Marathon Oil Corp on Wednesday reported a quarterly profit, compared with a year-ago loss, helped by higher production and rising crude prices.

The company reported a net income of $96 million, or 11 cents per share, in the second quarter ended June 30, compared with a net loss of $139 million, or 16 cents per share, a year earlier.

Production rose to 419,000 barrels of oil equivalent per day (boepd) from 349,000 boepd. (Reporting by Karan Nagarkatti in Bengaluru; Editing by Sriraj Kalluvila)

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