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Energy companies rise as OPEC+ keeps output increase unchanged

ReutersJun 2, 2025 9:45 AM

U.S.-listed shares of oil firms gain premarket, tracking rise is oil prices O/R

Brent crude futures LCOc1 up 3.2% at $64.77/barrel; while U.S. West Texas Intermediate crude CLc1 rise 3.4% to $62.85/barrel

Crude prices rise after producer group OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months

Energy majors Chevron CVX.N and Exxon XOM.N both up marginally

Devon Energy DVN.N, Diamondback Energy FANG.O, EOG ResourcesEOG.N, APA Corp APA.O and ConocoPhillips COP.N rise between 1% and 1.6%

Oilfield services companies Halliburton HAL.N rise 1.4% and SLB SLB.N up 1.1%

Refiners Marathon Petroleum MPC.N and Phillips 66 PSX.N both up marginally

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