Lower Production But Higher Revenue ForecastsConocoPhillips will benefit from these higher oil and gas prices. But for most of Q2, prices were lower, as may be seen when Conoco is set to release earnings on Aug. 6. Moreover, for all of 2026, it's guiding for higher production: 2.295 - 2.325 MMBOED. That includes the higher Q1 production, but may also include higher forecasts for Q3/Q4. However, analysts are forecasting higher Q2 revenue compared to Q1, based on Seeking Alpha's survey:$19.83 billion (Q2) est.