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Markets News

Liberty Oilfield posts quarterly loss as oil rout hurts service demand

Oct 27 (Reuters) - Liberty Oilfield Services posted a quarterly loss on Tuesday compared with a year-ago profit, as demand for its fracking services dropped due to a coronavirus-led crash in crude prices.

The Denver-based company’s net loss attributable to shareholders stood at $34.5 million, or 41 cents per share, in the third quarter ended Sept. 30, compared with a profit of $11 million, or 15 cents per share, a year earlier. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Vinay Dwivedi)

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