Lukoil PJSC, Russia’s second largest oil producer, said third-quarter profit dropped 62 percent, a bigger decline than estimated, after crude prices fell amid a global supply glut.
By Stephen Bierman - BLOOMBERG.COM

Net income fell to $623 million in the third quarter compared to $1.62 billion the previous year, according to the Moscow-based company. That was below the $826 million average estimate in a survey of nine analysts by Bloomberg News. Sales fell 40 percent to $23.4 billion.

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