Energy stocks down on expected global supply growth

Texas Pacific Land (Dover)

29/09/2025 15:04

** S&P 500 Energy index .SPNY down 1.8%, tracking dip in crude prices O/R

** Brent crude LCOc1 down 2.6% at $68.34/barrel; U.S. West Texas Intermediate crude futures CLc1 fall 2.9% to $63.82/barrel

** Crude prices fall as OPEC+ plans for another increase to oil output in November and resumption of oil exports by Iraq's Kurdistan region via Turkey raised global supply outlook

** Energy majors Chevron CVX.N and Exxon Mobil XOM.N down 2% and 1.5% respectively

** Texas Pacific Land Corp TPL.N, Devon Energy DVN.N, ConocoPhillips COP.N and Halliburton HAL.N decline between 2.2% and 3.1%; among top percentage losers on energy index

** Oilfield services companies Baker Hughes BKR.O falls ~1% and SLB SLB.N down 1.8%

** Refiners Marathon Petroleum MPC.N down 1.3% and Phillips 66 PSX.N falls 1.8%

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))