Oil stocks fall as crude extends losses on US supply, China demand concerns

Callon Petroleum Co

16/11/2023 16:45

** Shares of oil and gas companies down tracking drop in
oil prices
    ** Brent crude  LCOc1  down 3.2% at $78.58/bbl and US West
Texas Intermediate crude  CLc1  down 3.5% at $74.01/bbl on
saturated U.S crude oil supply, expectations of weaker energy
demand, and expected slowdown in oil refinery throughput in
China  O/R 
    ** Oil majors Exxon Mobil  XOM.N  and Chevron  CVX.N  rise
1.20% and 1.70%, respectively 
     ** Oil and gas producers ConocoPhillips  COP.N , Occidental
Petroleum  OXY.N , Callon Petroleum  CPE.N  and Marathon Oil
 MRO.N  up between 2.10% and 4.82%
    ** Oilfield services companies SLB  SLB.N  and Halliburton
 HAL.N  slip 3.48% and 3.77% respectively 
    ** Oil and gas refiners PBF Energy  PBF.N ,  Valero Energy
 VLO.N  and Phillips 66  PSX.N  down 1.28%-4.77%

 (Reporting by Kabir Dweit)
 ((Kabir.Dweit@thomsonreuters.com))