Favorable oil price is aiding ConocoPhillips' (COP) bottom line. However, increasing production and operating expenses are hurting it.
The OPEC announcement over the weekend was widely seen as a plan to add back production from members’ current coordinated cuts.
Big Oil companies like ExxonMobil, Chevron and ConocoPhillips are using mergers and acquisitions to consolidate their future in a volatile and evolving market.