Energy companies down as OPEC+ weighs another output hike

ReutersSep 3, 2025 2:18 PM

S&P 500 Energy index .SPNY down 1.7%, tracking a decline in crude prices O/R

Brent crude futures LCOc1 down 1.9% at $67.81/bbl, while West Texas Intermediate (WTI) crude futures CLc1 falls 2.1% to $64.20/bbl

Crude prices fell ahead of a weekend meeting of OPEC+ producers that is expected to consider another increase in production targets in October

Energy majors Chevron CVX.N and Exxon Mobil XOM.N down 1.7% and 1.9% respectively

*ConocoPhillips COP.N, APA Corp APA.O, Diamondback Energy FANG.O and Devon Energy DVN.N decline between 2.9% and 3.4%; among the top percentage losers on the energy index

Oilfield services company Halliburton HAL.N and SLB SLB.N down 2.6% and 1.2% respectively

Refiner Phillips 66 PSX.N dips 2.4%

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