Energy companies fall as oversupply concerns overshadow US government reopening

Liberty Energy

12/11/2025 15:03

** S&P 500 energy index .SPNY down 0.5%, tracking a decline in crude prices

** Brent crude futures LCOc1 slipped 2% to $63.81 a barrel; U.S. West Texas Intermediate (WTI) crude futures CLc1 was down 2.2% at $59.68 a barrel

** Crude prices fell, weighed by oversupply concerns as OPEC said global oil supply will match demand in 2026, marking a further shift from its earlier projections of a supply deficit

** Energy majors Chevron CVX.N down 1.7% and Exxon Mobil XOM.N falls 0.8%

** Oilfield services companies Baker Hughes BKR.O down 1.3%, SLB SLB.N falls 1.4%

** Refiner PBF Energy PBF.N down 1.3%

(Reporting by Pranav Mathur in Bengaluru)

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