16:33:58 EDT Tue 24 Mar 2026
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ConocoPhillips (COP) BMO CDR (CAD Hedged)
Symbol ZCOP
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Close 2026-03-23 C$ 14.43
Market Cap C$ 1,587,300
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Globe says Occidental told war really messed things up

2026-03-24 07:45 ET - In the News

See In the News (C-OXY) Occidental Petroleum CDR (CAD Hedged)

The Globe and Mail reports in its Tuesday edition that a truce in the Middle East conflict will not quickly restore normal energy and commodity movement. The Globe's Jeffrey Jones and Kate Helmore write that the Iran war has shut down output and wrought unprecedented damage to oil and gas production and infrastructure, including major refineries and liquefied natural gas plants. This heightens the risks of long-term disruption of supply chains for petroleum products such as diesel and jet fuel, as well as petrochemicals and fertilizer. Rystad Energy's Tom Liles says, "What makes this crisis different is just how wide-ranging across the commodity space it is." The longer the conflict drags on, the more difficult it will be to restring the supply chains, but there is nothing in history of this magnitude to act as a guide. About 11.4 million barrels a day, consisting of crude oil, condensate and gas-to-liquids production, are off-line because facilities are damaged or wells are shut off. Adding lost liquid natural gas volumes, that rises to the equivalent of 15.1 million barrels a day. President Donald Trump on Monday pulled back his threat to destroy Iran's power network unless the country reopened the Strait of Hormuz.

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