Energy stocks drop as Iraq raises oil exports, fueling demand fears

ReutersSep 22, 2025 2:39 PM

S&P 500 Energy index .SPNY down 0.7%, tracking dip in crude prices O/R

Brent crude LCOc1 down 0.7% at $66.19/barrel; U.S. West Texas Intermediate (WTI) crude futures CLc1 dips 0.8% to $62.21/barrel

Crude prices slip as concerns over Russia and Middle East countered by oversupply jitters

Iraq, OPEC's second-largest producer, has increased oil exports under OPEC+ agreement, state oil marketer SOMO said on Sunday

Energy majors Chevron CVX.N and Exxon Mobil XOM.N down 0.3% and 0.8%, respectively

Diamondback Energy FANG.O, SLB SLB.N, Halliburton HAL.N and Texas Pacific Land Corp TPL.N decline between 1.5% and 2.2%; among top percentage losers on energy index

Oilfield services company Baker Hughes BKR.O down 1.2%

Refiners HF Sinclair DINO.N and Phillips 66 PSX.N both down marginally

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