Conoco Expects to Curtail More Production in June, CEO Lance Says

The transcript discusses the challenges faced by the oil industry due to low prices and high inventories. It highlights strategic decisions to store oil and manage production based on market conditions. The company emphasizes its strong balance sheet, allowing it to make voluntary production cuts. The discussion also covers cost management, efficiency improvements, and the potential for industry consolidation. The company expresses skepticism about government intervention and remains focused on long-term strategies.

What role does technology and innovation play in reducing costs in the oil industry?

What challenges does the speaker foresee in recovering from the current oil market downturn?

What is the speaker's stance on government intervention in the oil market?

How does the speaker view the potential for mergers and acquisitions in the oil industry?