---
title: "COP: FY26 guidance targets 2.3 MMBOED production and $12B+ capex, with strong Brent price sensitivity"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291687396.md"
description: "Net income and cash flow are highly sensitive to Brent price changes, with FY26 production guided at 2.295–2.325 MMBOED and capital expenditures at $12.0–$12.5B. Turnarounds and portfolio shifts impact quarterly results, while dividends remain steady at $0.84 per share.Original document: ConocoPhillips [COP] Slides Release — Jul. 3 2026DisclaimerThis is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original source."
datetime: "2026-07-03T21:22:13.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291687396.md)
  - [en](https://longbridge.com/en/news/291687396.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291687396.md)
generator: "portal-rs"
---

# COP: FY26 guidance targets 2.3 MMBOED production and $12B+ capex, with strong Brent price sensitivity

Net income and cash flow are highly sensitive to Brent price changes, with FY26 production guided at 2.295–2.325 MMBOED and capital expenditures at $12.0–$12.5B. Turnarounds and portfolio shifts impact quarterly results, while dividends remain steady at $0.84 per share.

Original document: ConocoPhillips \[COP\] Slides Release — Jul. 3 2026

**Disclaimer**

This is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original source.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**