NEW YORK, Jan 30, 2026, 15:25 (ET) — Regular session
- ConocoPhillips shares were up about 0.9% at $103.74 in afternoon trade.
- Crude prices steadied near six-month highs ahead of an OPEC+ meeting on Sunday.
- Investors are positioning for ConocoPhillips’ fourth-quarter earnings call on Feb. 5.
ConocoPhillips shares rose on Friday, tracking firm crude prices as traders weighed geopolitics and a fresh round of Big Oil earnings.
The gains matter now because oil-linked stocks have turned into a fast read on Middle East risk and supply policy heading into February. A single headline can move crude, and crude can move the tape in energy.
It also lands days before ConocoPhillips reports quarterly results, when the company will have to put numbers behind its 2026 plans and how it sees oil prices shaping cash flow and spending.
Brent settled at $70.69 a barrel and U.S. West Texas Intermediate finished at $65.21, hovering near six-month highs after a strong month. “It’s really all about Iran right now,” said John Kilduff, a partner at Again Capital. (Reuters)
Attention shifts next to OPEC+ — the OPEC and allies led by Russia — which meets on Sunday, with delegates telling Reuters the group is likely to keep its pause on output increases for March. Brent has climbed toward $72 a barrel even as talk of a supply glut has hung over 2026. (Reuters)
In stocks, the day’s energy mood was also set by earnings from Exxon Mobil, which beat fourth-quarter estimates on higher output from the Permian and Guyana. CEO Darren Woods said the company is “capturing more value from every barrel and molecule” as it builds growth through 2030 and beyond. (Reuters)
Chevron also topped fourth-quarter expectations as it leaned on cost cuts, while flagging a closer look at opportunities in Venezuela amid shifting politics there. “As we look for opportunities to grow, we will stay disciplined around capital,” CFO Eimear Bonner said. (Reuters)
ConocoPhillips investors also had Alaska in the backdrop. After a North Slope drilling rig toppled in transit, ConocoPhillips Alaska vice president Barry Romberg told lawmakers he did not expect “any material change” to the company’s long-term production forecast, even as officials tracked a spill of diesel and hydraulic oil from the incident. (Alaskasnewssource)
On Thursday, ConocoPhillips shares climbed 1.39% to close at $102.80, their fifth straight daily gain. The stock sat about 3% below its 52-week high, MarketWatch data showed. (MarketWatch)
But the oil trade cuts both ways. A Reuters poll of economists and analysts pegged Brent at an average $62.02 a barrel in 2026 and WTI at $58.72, with oversupply expected to blunt the impact of geopolitical shocks. “The oil market appears to be in a lasting surplus,” said Norbert Ruecker, head of economics & next generation research at Julius Baer. (Reuters)
For ConocoPhillips, the next hard catalyst is earnings. The company has scheduled its fourth-quarter earnings conference call for Feb. 5 at noon Eastern, according to its investor presentations calendar. (ConocoPhillips)
Between now and then, traders will be watching Sunday’s OPEC+ meeting and whether crude holds its recent gains into next week — or gives them back just as ConocoPhillips steps into the reporting window.
