US integrated oil company Marathon Oil Corp reported lower quarterly profit, as hurricanes and disruptions in oil and gas production outweighed record prices for crude oil.

The Houston company’s results fell short of Wall Street expectations and it cut its production forecast for the year, triggering a more than two per cent slide in its share price.
Marathon also left analysts jittery by disclosing it is in talks with US tax regulators to resolve tax issues related to a deal to buy a stake in a joint venture.
Net income in the third quarter decreased to $222 million, or 64 cents per share, from $281 million, or 90 cents a share, in the year-earlier period.