Nov 3 (Reuters) - Coterra Energy ( CTRA ) missed Wall
Street estimates for third-quarter profit on Monday, as the oil
and gas company struggled with lower oil prices.
U.S. President Donald Trump's trade policies fueled
uncertainty across the energy industry, as escalating trade
tensions threatened to slow global economic growth and weaken
energy demand.
Crude prices averaged $68.33 per barrel in the
July-September quarter, down more than 13% from a year earlier,
after OPEC+ accelerated output hikes and raised concerns about
oversupply.
The Houston-based company reported an average oil price of
$64.10 per barrel, compared with $74.04 per barrel from a year
earlier, whereas production was at 166,800 barrels per day,
compared with 112,300 bpd last year.
The company's adjusted profit was 41 cents per share for the
three months ended September 30, compared with the analysts'
average estimate of 44 cents per share, according to data
compiled by LSEG.