ConocoPhillips Beats Earnings but Warns on Middle East War Risk

ConocoPhillips, the Houston-based oil producer, exceeded earnings expectations for the latest quarter. However, the company issued a cautious outlook, trimming its full-year production forecast to 2.3–2.33 million barrels per day. The guidance explicitly excludes production from Qatar, reflecting heightened geopolitical risks due to the ongoing war in the Middle East. The conflict threatens to disrupt operations and supply chains in the region, potentially impacting future output. Despite the strong quarterly performance, investors are now focused on the potential for production cuts and instability in key oil-producing areas.