Why Shares of ConocoPhillips Slumped Today

The threat of an OPEC+ production increase hung over the stock today.Shares in ConocoPhillips (COP -4.07%) were lower by more than 4% at noon today. The decline comes on the day news broke that eight OPEC+ members will meet on Sunday and discuss a production hike. While there's no guarantee that a production increase will be agreed upon, or that any such increase will put pressure on the price of oil, the threat of it is enough to spook oil investors. Why ConocoPhillips is uniquely exposedBecause ConocoPhil ...