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Energy

Marathon Oil posts quarterly loss on oil crash

Aug 5 (Reuters) - U.S. oil and gas producer Marathon Oil Corp on Wednesday posted a quarterly loss compared with a year-ago profit, as the coronavirus-induced lockdowns crushed crude prices and sapped demand for fuel.

The Houston, Texas based company reported a loss of $750 million, or 95 cents per share, in the second quarter ended June 30, from a profit of $161 million, or 20 cents per share, last year.

Total net production for the quarter stood at 390,000 barrels of oil equivalent per day (boepd) from 435,000 boepd a year ago. (Reporting by Arunima Kumar in Bengaluru; Editing by Shailesh Kuber)

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