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Markets News

EOG Resources swings to Q2 loss on oil price plunge

Aug 6 (Reuters) - U.S. oil and gas producer EOG Resources Inc on Thursday swung to a quarterly loss from a year-ago profit, as the COVID-19 pandemic hammered crude prices and eroded demand for fuel.

The Houston-based company said net loss was $909.4 million, or $1.57 cents per share, for the second quarter ended June 30, from a profit of $847.8 million, or $1.46 per share, last year.

Reporting by Arunima Kumar in Bengaluru; Editing by Devika Syamnath

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