ConocoPhillips ( COP ) shares fell 3.1% to $88.54 Monday afternoon as crude oil prices declined following OPEC+'s announcement to boost oil production.

What To Know: West Texas Intermediate (WTI) crude futures dropped around 2% after the group said it would increase output by 411,000 barrels per day in June, marking the third consecutive monthly hike.

In total, OPEC+ will have added 960,000 barrels per day over April through June, reversing nearly half of the voluntary cuts made since 2022.

Saudi Arabia led the push for higher output to discipline overproducing members like Iraq and Kazakhstan and to reclaim market share.

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The supply boost pressured oil prices despite ongoing geopolitical tensions and signs of improving trade relations between the U.S. and China. WTI crude hovered below $57 per barrel—well under the $65 level many U.S. producers need to remain profitable.

ConocoPhillips ( COP ), heavily tied to oil price movements, felt the impact as investor sentiment soured across the energy sector. The decline also comes ahead of the company's first-quarter earnings report on Thursday, where it's expected to post earnings of $2.07 per share on $15.82 billion in revenue.

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How To Buy COP Stock

By now you're likely curious about how to participate in the market for ConocoPhillips ( COP ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of ConocoPhillips ( COP ), which is trading at $88.82 as of publishing time, $100 would buy you 1.13 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, COP has a 52-week high of $125.22 and a 52-week low of $79.88.