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Stock impact report

Crude Oil Price Update – Closed on Bearish Side of Short-Term Retracement Zone [Yahoo! Finance News]

ConocoPhillips (COP) 
Last conocophillips earnings: 4/30 07:00 am Check Earnings Report
U.S. West Texas Intermediate crude oil futures fell on Friday as President Donald Trump’s optimistic plan to re-open the economy on May 1, failed to offset concerns over China’s worst quarterly economic contraction on record.Investor sentiment remained cautious, with readings of economic indicators getting worse as global supply chains remain shut and large-scale production halts put millions out of work.At 20:51 GMT,June WTI crude oilIn other news, China’s daily crude oil throughput in March sank to a 15-month low, with state refiners maintaining deep output cuts but there are some signs of recovery as the country begins to ease coronavirus containment measures.Additionally, ConocoPhillips on Thursday said that it will reduce planned North American output by 225,000 bpd, the largest cut so far by a major shale oil producer to deal with the unprecedented drop in demand.Some feel prices will not make a significant turnaround until the U.S. producers get more aggressive with their outpu Show less Read more
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