July 23, 2020 / 6:19 AM / 13 days ago

Repsol posts loss, writes down $1.5 bln as COVID-19 sours oil outlook

MADRID, July 23 (Reuters) - Spanish oil and gas firm Repsol posted a net loss for the second quarter on Thursday, and wrote down $1.5 billion in assets on expectations of lower oil prices over the next 30 years.

The 258 million euro ($298.9 million) quarterly adjusted net loss was less deep than an average forecast for 279 million euros given by analysts polled by the company.

Repsol said it now expected Brent crude oil prices to average $59.6 per barrel between 2020 and 2050.

$1 = 0.8631 euros Reporting by Isla Binnie; Editing by Jose Elías Rodríguez

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