US oil firms rise as Russia, Saudi Arabia lobby for OPEC+ supply cuts
08/12/2023 15:34
** S&P 500 Energy sector .SPNY rises 1.06% as crude prices
stage recovery
** Brent crude LCOc1 gains 2.36% at $75.80/bbl and US West
Texas Intermediate crude CLc1 gains 2.54% at $71.10/bbl as
OPEC+ members Russia and Saudi Arabia lobbied other members for
output cuts on Thursday O/R
** Oil majors Exxon Mobil XOM.N and Chevron CVX.N up
0.54% and 0.99%, respectively
** Halliburton HAL.N , Valero Energy VLO.N , Marathon
Petroleum MPC.N and Devon Energy DVN.N , rise between 1.12%
and 1.31%, among top pct gainers on the energy index
** Worries on U.S. gasoline supply surplus and weak China
demand data continue to linger, leaving oil on track for first
seven-week decline in five years
** Separately, the FTC issues a second request to Chevron
and Hess for additional information on their $53 bln deal
(Reporting by Kabir Dweit)
((Kabir.Dweit@thomsonreuters.com))