Lates News

Before the market opened on Thursday, ConocoPhillips fell by 0.4%, continuing the downward trend from Wednesday. The company had previously announced that it would lay off up to 25% of its workforce, with most of the layoffs taking place this year, according to a company spokesperson. At a time when ConocoPhillips is laying off employees, oil prices have already dropped by over 10% this year, putting financial pressure on some producers. Chevron had announced layoffs of up to 20% in February.