Cratering Oil Prices Are Forcing U.S. Producers to Take Drastic Actions to Survive [The Motley Fool]
ConocoPhillips (COP)
Last conocophillips earnings: 4/30 07:00 am
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conocophillips.com/investor-relations/investor-presentations
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Source: The Motley Fool
Crude oil prices have crashed and burned this year. At one point this week, the U.S. oil price benchmark, West Texas Intermediate (WTI), plummeted intonegative territoryas price speculators raced to unload positions before they had to take delivery of physical oil they couldn't store because thecountry is running out of space. The industry's oversupply issue is forcing producers to take extreme measures.One step a growing number of U.S. producers are taking is shutting down some of their oil pumps. Because storage space is at a premium, it's less of a financial burden to keep oil underground than to pump it into the country's oversaturated market.Image source: Getty Images.Shutting it all downContinental ResourcesNYSE:CLRannounceda 0% production cut for April and May after some of its customers told Continental they couldn't take as much oil. One of those buyers,refinerCVR EnergyNYSE:CVIIndustry conditions, unfortunately, have gone from bad to worse over the past few weeks. Continenta
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News
- If Oil Hits $100 These Are the Energy Dividends You Want to Own [Yahoo! Finance]Yahoo! Finance
- Assessing ConocoPhillips (COP) Valuation After A Strong Multi-Month Share Price Run [Yahoo! Finance]Yahoo! Finance
- Warren Buffett's Oil Bet Looks Genius, Here Is What to Buy Next [Yahoo! Finance]Yahoo! Finance
- ConocoPhillips (COP) had its price target raised by UBS Group AG from $130.00 to $144.00. They now have a "buy" rating on the stock.MarketBeat
- Oil Stocks Are Surging, But Will They Go Higher? 2 Things Investors Need to Know About the Current State of the Oil Sector. [Yahoo! Finance]Yahoo! Finance
COP
Earnings
- 2/5/26 - Miss
COP
Sec Filings
- 3/5/26 - Form 4
- 2/18/26 - Form 4
- 2/18/26 - Form 4
- COP's page on the SEC website