Oil cos down as OPEC signals global oil supply to match demand in 2026

Coterra Energy

12/11/2025 17:05

Updates

** S&P 500 energy index .SPNY down 1.2%, tracking a nearly 4% decline in crude prices

** Brent crude futures LCOc1 slipped 3.7% to $62.73/bbl, while U.S. West Texas Intermediate (WTI) crude futures CLc1 fell 4.08% to $58.55/bbl

**  OPEC in a report says world oil supply would match demand next year due to the wider OPEC+ group's production increases - a shift from its earlier projections of a supply deficit in 2026

** Oil majors Chevron CVX.N down 2.5% and Exxon Mobil XOM.N falls 1%

** Coterra Energy CTRA.N, Targa Resources TRGP.N,  Halliburton HAL.N and SLB SLB.N decline between 1.5% and 2.3%, among the top pct decliners on the energy index

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))