Receive daily email alerts, subscriber notes & personalize your experience. Register Now ConocoPhillips will increase its near-term oil production cuts beyond the 225,000 b/d gross originally signaled two weeks ago, owing to persistent low crude demand and prices due to the coronavirus pandemic, the company said Thursday. The company now intends to curtail 265,000 b/d of gross oil, starting in May, representing an additional 40,000 b/d of cuts from the Lower 48 states. The other 100,000 b/d, from the Surmont oil sands project in Canada, is unchanged from earlier this month, ConocoPhillips said in its first quarter earnings release. But June’s cuts will be even steeper, totaling 460,000 b/d and including 260,000 b/d in the Lower 48 states, 100,000 b/d from Surmont, […]