Why ConocoPhillips, Devon Energy, and Murphy Oil Stocks All Just Dropped

Rich Smith, The Motley Fool
·2 min read
Why ConocoPhillips, Devon Energy, and Murphy Oil Stocks All Just Dropped

A new president is in the White House, a new "green energy" policy mandate is ascendant in Washington -- and that's not looking like good news for oil stocks on Thursday. As of 1:40 p.m. EST, shares of oil giant ConocoPhillips (NYSE: COP) are down 5.4%, while smaller oil and gas producers Devon Energy (NYSE: DVN) and Murphy Oil (NYSE: MUR) are down 10.2% and 13%, respectively. Why are oil stocks down?