Does MM have a view on ConocoPhillips (COP US)

Hi Jill,

For those not familiar with the company ConocoPhillips (COP US) is a $US120bn huge multinational oil & gas explorer/producer whose stable of assets includes being Alaska’s largest crude oil producer – a very unpopular position in many climate advocates minds since Joe Biden signed the Willow drilling project in Alaska.

COP has tracked the oil price closely over the last 12 months which is no great surprise. At MM we believe the correction by crude is maturing fast and any dips under $US70/barrel represent good value buying, hence after correcting ~34% since November we see value in the US stock into weakness into the $US80-90 region but caution is warranted as the short term trend clearly remains down.

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ConocoPhillips (COP US)

LAST UPDATED 30/03/2023 11:22

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ConocoPhillips (COP US)

LAST UPDATED 30/03/2023 11:22