ConocoPhillips posts higher fourth-quarter profit

ConocoPhillips posts higher fourth-quarter profit

(Reuters) – ConocoPhillips reported a jump in fourth-quarter profit on Thursday, as the U.S. shale producer benefited from higher prices for its crude oil on tight supplies and robust demand.

The Houston-based company reported earnings of $3.2 billion, or $2.61 per share, for the three months ended Dec.31, compared with $2.6 billion, or $1.98 per share, a year earlier.

(Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila)

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