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Conocophillips profit rises on strong crude prices

BY Reuters
— 7:01 AM ET 05/05/2022

May 5 (Reuters) - U.S. oil producer Conocophillips (COP) reported a higher first-quarter profit on Thursday, helped by a surge in crude prices following heavy sanctions on Russia after it invaded Ukraine.

The Houston-based company's adjusted earnings rose to $4.29 billion, or $3.27 per share, in the quarter ended March 31, from $902 million, or 69 cents per share, a year earlier.

(Reporting by Rithika Krishna in Bengaluru; Editing by Rashmi Aich and Shounak Dasgupta)

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