ConocoPhillips

As a price‑taker in global oil and gas markets, ConocoPhillips has limited direct pricing power. The company can improve realizations through marketing, LNG optionality and mix, but cannot independently raise commodity prices without losing sales. Margin protection is primarily via cost structure and capital discipline.

Management’s return framework and cost‑reduction program, including workforce reductions, help defend cash margins, yet cannot offset sustained commodity price declines.