Energy stocks drop as Iraq raises oil exports, fueling demand fears

Texas Pacific Land (Dover)

22/09/2025 15:39

** S&P 500 Energy index .SPNY down 0.7%, tracking dip in crude prices O/R

** Brent crude LCOc1 down 0.7% at $66.19/barrel; U.S. West Texas Intermediate (WTI) crude futures CLc1 dips 0.8% to $62.21/barrel

** Crude prices slip as concerns over Russia and Middle East countered by oversupply jitters

** ** Iraq, OPEC's second-largest producer, has increased oil exports under OPEC+ agreement, state oil marketer SOMO said on Sunday

** Energy majors Chevron CVX.N and Exxon Mobil XOM.N down 0.3% and 0.8%, respectively

** Diamondback Energy FANG.O, SLB SLB.N, Halliburton HAL.N and Texas Pacific Land Corp TPL.N decline between 1.5% and 2.2%; among top percentage losers on energy index

** Oilfield services company Baker Hughes BKR.O down 1.2%

** Refiners HF Sinclair DINO.N and Phillips 66 PSX.N both down marginally

 (Reporting by Sumit Saha in Bengaluru)

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