Energy firms fall as OPEC+ plan adds to expectations of supply surplus

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

Brent crude LCOc1 down 1% at $67.27/barrel; U.S. West Texas Intermediate crude futures CLc1 down 1.1% to $62.64/barrel

Crude prices fall ahead of anticipated production increase by OPEC+ and as the resumption of oil exports from Iraq's Kurdistan region via Turkey reinforces market expectations of a supply surplus

Energy majors Chevron CVX.N and Exxon Mobil XOM.N down 1.1% and 1.4%, respectively

Separately, XOM says it will lay off 2,000 workers globally as part of a long-term restructuring plan

Occidental Petroleum OXY.N, Halliburton HAL.N, Baker Hughes BKR.O, and SLB SLB.N fall between 3.2% and 4.5%, are among the top percentage losers on the energy index

Refiners Phillips 66 PSX.N and Marathon Petroleum MPC.N each down ~2%