Oil stocks fall on OPEC+ output increase, tariffs, US pause on Ukraine aid

U.S.- listed shares of energy companies fall premarket, tracking declining oil prices O/R

Brent LCOc1 crude futures down 1.5% at $70.53/barrel and U.S West Texas Intermediate crude CLc1 down 1.2% at $67.55

Oil prices extended losses following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing's retaliatory tariffs

Another factor was President Donald Trump's decision to pause all U.S. military aid to Ukraine following his Oval Office clash with President Volodymyr Zelenskiy last week

Oil majors Chevron CVX.N and Exxon XOM.N down 0.7% and 0~1% respectively

APA Corp down 1.4%, Permian Resources PR.N falls 1.2%, Occidental Petroleum OXY.N down ~1%

Oilfield services (OFS) firms Baker Hughes BKR.O down 0.7%, SLB SLB.N down 1.1%, Halliburton HAL.N down 1.3%

Refiners Valero Energy VLO.N falls 1.2% and Marathon Petroleum MPC.N down 0.3%