Oil companies down as crude drops on growing glut and Trump-Putin meeting

Shares of energy companies fall premarket, tracking declining crude prices

Brent crude futures LCOc1 down 1.2% at $60.33 a barrel, while U.S. West Texas Intermediate crude CLc1 declines 1.2% to $56.77 a barrel

Oil prices edge lower , heading for a weekly loss of around 3% after the International Energy Agency (IEA) forecast a growing glut and U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine O/R

"Now that the two leaders are expected to meet, it could be a sign that the U.S.'s stance on Russia may ease. If so, that should push prices lower," said Tamas Varga, analyst at PVM

Oil majors Exxon XOM.N and Chevron CVX.N fall 0.3% and 0.5% respectively

Oil and gas producers ConocoPhillips COP.N, EOG Resources EOG.N, Occidental Petroleum OXY.N, Devon Energy DVN.N and SM Energy SM.N dip between 0.7% and 3%

Shares of top oilfield services firms Halliburton and SLB SLB.N fall 2% and 1% respectively