REUTERS/Brendan McDermid/File PhotoCompanies Conocophillips FollowOccidental Petroleum Corp FollowAug 3 (Reuters) - ConocoPhillips (COP.N) slightly raised its full-year output expectations on Thursday, even as it posted a lower-than-expected quarterly profit.
That helped the company raise its full-year production outlook for a second time this year and now expects it to range between 1.80 million boepd and 1.81 million boepd.
The company in May said it expected production between 1.78 million boepd and 1.80 million boepd.
ConocoPhillips also narrowed its capital spending guidance range to between $10.8 billion and $11.2 billion, from previous guidance of $10.7 billion to $11.3 billion.
Rival Occidental Petroleum (OXY.N) on Wednesday had also raised its full-year production forecast, but missed second-quarter profit expectations due to the slide in prices.
Persons:
Brendan McDermid, Arathy Somasekhar, Mrinalika Roy, Shinjini Ganguli, Toby Chopra
Organizations:
ConocoPhillips, New York Stock Exchange, REUTERS, Conocophillips, Occidental Petroleum Corp, Rival Occidental Petroleum, Thomson
Locations:
New York, U.S, Houston, Bengaluru