Oil and gas firms' first-quarter results improved on higher oil prices

A sample of 64 US-based oil and gas producers and refiners posted a combined net income of $6 billion for this year's first quarter compared with a combined net loss of $15.5 billion for the same period in 2016. The group's collective revenues in this year's first quarter were $211.64 billion, up from revenues of $151.68 billion in first-quarter 2016.

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