UPDATE 1-ConocoPhillips posts quarterly loss, cuts 2016 budget again
April 28, 2016 at 07:36 AM EDT
April 28 (Reuters) - ConocoPhillips, the largest U.S. independent oil company, posted a first-quarter loss, compared with a year-earlier profit, and cut its spending budget for the second time this year as the slump in crude prices sapped profitability.