ConocoPhillips resumes share buybacks, promises capital discipline
The logo for ConocoPhillips is displayed on a screen on the floor at the NYSE in New York
(Reuters) – ConocoPhillips said on Wednesday it has resumed its share buyback program and pledged to keep spending flat even as oil prices climbed, the latest U.S. energy firm to embrace investor returns over production growth.
Despite the uptick in crude prices, oil companies are expected to largely limit spending to marginally higher as investors reward companies showing capital discipline after years of low returns from the sector.
Globally-traded Brent crude rose over $70 a barrel this week, its highest since January 2020, as the COVID-19 pandemic halted travel and slashed fuel demand.
ConocoPhillips resumes share buybacks, promises capital discipline
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ConocoPhillips resumes share buybacks, promises capital discipline
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