ConocoPhillips Lowers Output Forecast Amid Iran War
ConocoPhillips cut its 2026 output forecast to 2.29-2.325 million barrels per day. The move follows Qatar disruptions and a drop in Q1 profit to $2.18 billion.
CONOCOPHILLIPS cut its 2026 production forecast to a maximum of 2.325 million barrels daily after conflict-driven disruptions in the Middle East. The revision follows Iran-led attacks on Qatari LNG facilities, which removed roughly $20 billion in annual export capacity. Investors face reduced output and lower realized prices as regional instability forces the producer to exclude Qatar from near-term outlooks.
CONOCOPHILLIPS now expects 2026 output between 2.29 million and 2.325 million barrels of oil equivalent per day (boepd). This marks a drop from previous guidance of 2.33 million to 2.36 million boepd.
