Reuters
05 Oct 2026, 09:35 UTC · 1h ago
ConocoPhillips sees oil price floor rising to $70 a barrel, chairman says
Impact · against what's priced in
The Chairman's outlook on a $70 oil price floor is mildly positive as it contradicts the market's current expectation of declining revenues. However, because the price already assumes a stable global oil market, this guidance serves more as a baseline validation than a significant new catalyst.
- COP+0.15
Challenges what's priced in
- The price assumes
implied revenue CAGR (reverse DCF): -2.4%
The market currently assumes a future of declining revenue and lower oil prices, but the Chairman's projection of a $70 price floor and a $65-$70 mid-cycle price suggests a more stable revenue baseline.
What COP's price assumes · Sep 3
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