17.03.2015 - ConocoPhilips reduce investment
Shares of American corporations ConocoPhilips declined after the statement of the company on reducing the volume of capital investments to the level of 11.5 billion dollars compared to the previously planned $ 16 billion. Thus, the drilling costs will rise while investment in major projects will be reduced. It is noteworthy that despite the decline in oil prices and a reduction in the budget for the development of the company, production volume will continue to grow in the near future. We expect that further drop in oil prices will continue to put pressure on the stock of the company, but in the end, the situation may change. We expect a further drop in prices by 5-7% in the near future.