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Why Apache And ConocoPhillips Are Trading Lower Today

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Why Apache And ConocoPhillips Are Trading Lower Today

Apache Corporation (NASDAQ: APA) shares were trading lower amid a decline in the price of oil that is driven by uncertainty as to whether OPEC+ will extend reduced production during talks this week.

Apache, based in Houston, is one of the largest independent exploration and production companies in the world. It operates primarily in the U.S., Egypt, the North Sea, and Suriname.

Apache Corporation shares were trading down 3.27% at $13.46 at the time of publication on Monday. The stock has a 52-week high of $33.77 and a 52-week low of $3.80.

ConocoPhillips (NYSE: COP) shares were also trading lower amid a decline in the price of oil.

ConocoPhillips is a U.S.-based independent exploration and production firm. At the end of the third quarter of 2020, it produced 694,000 barrels per day of oil and natural gas liquids and 2.2 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States.

ConocoPhillips shares were trading down 3.48% at $41.32. The stock has a 52-week high of $67.13 and a 52-week low of $20.84.

 

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