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Will ConocoPhillips (COP) Stock Be Affected by Lower Oil Prices?

NEW YORK (TheStreet) -- ConoPhillips (COP) shares closed Monday's trading session up 0.02% to $43.59 despite falling oil futures following Iran's Deputy Oil Minister Rokneddin Javadi's comments on production.

Javadi said the country's crude output, excluding gas condensates, would reach 2.2 million barrels a day by the middle of summer, up from the country's current production of 2 million barrels a day, Reuters reports. This added to concerns about global oversupply sending oil prices down today.

Crude oil (WTI) is decreasing 0.58% to $48.13 per barrel and Brent crude is falling 0.57% to...


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