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StockNews.com
Business
Anushka Dutta

Oil Price Drops – Is It Time to Unload XOM and ConocoPhillips?

XOM COP ConocoPhillips Oil Exxon Mobil Corporation

Oil prices are coming down from their record highs. Prices have plummeted 13% over the past month and are now trading more than 20% below their 2022 peak. The prospect of a global slowdown is affecting oil prices.

Despite slowing momentum, the oil and gas sector has outperformed amid the dismal stock market performance. Moreover, JPMorgan Chase & Co. (JPM) believes that global oil prices could potentially climb to $380/bbl.

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