Should You Buy ConocoPhillips With Oil Below $75 a Barrel?

The article argues that ConocoPhillips may be attractive even with WTI crude below $75 per barrel, because oil prices appear disconnected from heightened geopolitical risk and tighter global supply conditions. It points to the end of fighting in the Persian Gulf, the reopening of the Strait of Hormuz, depleted global oil inventories, and damage to regional production facilities as reasons oil demand and prices could rise from current levels. The author believes this would support ConocoPhillips’ earnings and stock performance, especially since analysts expect earnings to decline next year. Despite the stock’s $133.6 billion market cap and 18.3x trailing earnings multiple, the piece suggests the valuation could prove cheaper if oil rebounds and earnings beat forecasts. Overall, the tone is bullish on COP and constructive on oil prices.