US oil firms gain after OPEC+ considers extending output cuts

Liberty Energy

27/02/2024 18:50

** Shares of U.S. oil firms edge higher, tracking gains in
oil prices 
    ** Brent crude futures  LCOc1  up 1.2% while WTI crude
futures  CLc1  up 1.5% after sources told Reuters that OPEC+
will consider extending voluntary oil output cuts into Q2 O/R 
    ** Shares of Exxon Mobil  XOM.N  up 0.3%
    ** U.S. oil producers Occidental Petroleum  OXY.N , Ovintiv
 OVV.N , Devon Energy  DVN.N  and APA  APA.O  up between 0.5%
and 2.2% 
    ** U.S.-focused oilfield services firms Patterson-UTI
 PTEN.O , Liberty Energy  LBRT.N  and Halliburton  HAL.N  up
between 0.5% and 3.7%            
    ** Chevron  CVX.N  and Hess  HES.N  down 2.1% and 3.2%,
respectively, after Exxon says it may preempt Chevron's
acquisition of a 30% stake in a giant Guyana oil block, the
centerpiece of CVX's deal for Hess
    

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))