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-0.0030165912518852 -0.00663650075414778 -0.00437405731523367 -0.00392156862745084 -0.00422322775263932 0.015686274509804 0.0256410256410257 0.0334841628959278
Stock impact report

Half of announced North American oil cuts come from just three companies [Reuters]

ConocoPhillips (COP) 
Last conocophillips earnings: 4/30 07:00 am Check Earnings Report
Company Research Source: Reuters
Half of announced North American oil cuts come from just three companies (Reuters) - Numerous U.S. and Canadian oil companies have said they are reducing output in 2020, but a Reuters analysis of the announcements so far show that just three companies - Chevron, ConocoPhillips and Occidental Petroleum - account for more than half of the cuts. Oil and gas producers are deep into crisis mode as a result of the worldwide slump in demand caused by coronavirus lockdowns. Fuel demand is down more than 30%, and the world’s big producers cannot produce oil profitability at less than $30 per barrel. While the members of the Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, will cut 9.7 million barrels per day (bpd) in production beginning in May, other nations could reduce output by as much as 10 million bpd. That includes the United States and Canada, the world’s largest and fourth-largest producers, respectively. Those cuts will come over time, howev Show less Read more
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