Energy firms slip as Russia downplays additional OPEC+ cuts

Callon Petroleum Co

25/05/2023 14:58

(Updates)
    ** Shares of U.S. oil and gas firms slip, tracking a fall in
oil prices
    ** Brent crude  LCOc1  falls 2.5% and U.S. West Texas
Intermediate (WTI) crude  CLc1  drops 2.7% after Russian Deputy
Prime Minister Alexander Novak played down the prospect of
further OPEC+ production cuts at its meeting next week  O/R 
    ** Oil majors Chevron Corp  CVX.N  and ExxonMobil Corp
 XOM.N  slip 2.2% and 2.4%, respectively
    ** Oil producers Chesapeake Energy Corp  CHK.O , Occidental
Petroleum Corp  OXY.N , ConocoPhillips  COP.N , Marathon Oil
Corp  MRO.N , Devon Energy Corp  DVN.N , APA Corp  APA.O  and
Callon Petroleum Co  CPE.N  fall between 0.9% and 2.7%
    ** Oilfield services firms Halliburton Co  HAL.N , Baker
Hughes Co  BKR.O , SLB  SLB.N  and Patterson-UTI Energy Inc
 PTEN.O  ease 2% to 3.3%
    ** Refiners HF Sinclair Corp  DINO.N , Valero Energy Corp
 VLO.N  and PBF Energy Inc  PBF.N  slide 1.6% to 3%  
    ** United States Oil Fund LP  USO.P  dips 2% and ProShares
Ultra Bloomberg Crude Oil  UCO.P  drops 3.8%
    
    

 (Reporting by Ankit Kumar)
 ((Ankit.Kumar2@thomsonreuters.com))