Dec 10 (Reuters) - ConocoPhillips (N:COP) COP.N , the largest U.S.
independent oil company, said on Thursday it expects its 2016
capital expenditure to be 25 percent lower than this year's
estimated budget, as it responds to a slump in oil prices.
The company forecast 2016 capital budget of $7.7 billion,
and also said it expects to raise $2.3 billion from non-core
asset sales.