ConocoPhillips Trading Volume Drops 33.86% to $495 Million Ranking 185th Despite Stock Price Rise

On June 3, 2025, ConocoPhillips (COP) saw a trading volume of $495 million, a 33.86% decrease from the previous day, ranking 185th in the day's stock market activity. The stock price rose by 1.37%, marking the second consecutive day of gains, with a total increase of 3.00% over the past two days.

The Trump administration is taking steps to roll back restrictions imposed by the Biden administration that limited oil drilling in much of Alaska's vast petroleum reserve. This move is expected to benefit ConocoPhillips, which is developing its 600-million-barrel Willow project in the refuge, with first oil production anticipated in 2029.

The Department of the Interior formally proposed rescinding a 2024 rule that imposed new limits on oil and gas activity across Alaska's National Petroleum Reserve. This policy shift is seen as a significant development for ConocoPhillips, as it could open new opportunities for oil drilling in the region.

The Trump administration's plans to eliminate federal protections that ban drilling and mining in millions of acres of pristine Alaskan wilderness are also expected to have a positive impact on ConocoPhillips. The company is likely to benefit from the potential lifting of these restrictions, which could lead to increased oil production and revenue.