After cutting dividend payouts, ConocoPhillips said Thursday it was in a good position to weather the market downturn, but still posted a quarterly net loss. Conoco this year cut its dividend by more than 60 percent in an effort to provide protection against a market where crude oil prices are about 25 percent lower than this time last year. “We reduced our dividend, further reduced our 2016 capital expenditures guidance, raised low-cost debt and continued to improve our cost structure,” Chairman and CEO Ryan Lance said in a statement. “As challenging as this price downturn has been, we are a much stronger company for the long term.” With the trimmed spending plans , the company said it still expects to meet […]