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ConocoPhillips shares dropped 3% on Sept. 29, 2025, after oil prices fell on OPEC+ production speculation and weak earnings, prompting major layoffs.
ConocoPhillips shares fell over 3% on September 29, 2025, as oil prices dropped on speculation OPEC+ may boost production by at least 137,000 barrels per day in November, worsening concerns of a global oil glut.
The company’s second-quarter adjusted earnings per share fell 28.3% year-over-year to $1.42, prompting plans to cut its global workforce by 20% to 25%.
Declining crude prices, driven by renewed Iraqi Kurdistan exports and broader supply increases, pressured energy stocks, with exploration and production firms facing reduced profitability.
While independent producers like Diamondback and Devon are highly exposed, integrated majors such as ExxonMobil and Chevron may better withstand the downturn.
Las acciones de ConocoPhillips cayeron un 3% el 29 de septiembre de 2025, después de que los precios del petróleo cayeran debido a la especulación sobre la producción de la OPEP + y las débiles ganancias, lo que provocó despidos importantes.