While crude oil prices fell Thursday after Angola announced plans to exit OPEC, Oklahoma energy stocks experienced gains of up to 4%.
Angola’s move raised questions about OPEC’s abilities to impact prices by limiting its production supplies around the globe.
As a result, West Texas Intermediate crude fell 33 cents to settle at $73.89 a barrel on the New York Mercantile Exchange.
The global benchmark, Brent crude, finished down 31 cents to $79.39 a barrel on ICE Futures Europe.
Both benchmarks managed a rebound after falling by more than $1 a barrel earlier in the trading session.
January natural gas rose 12 cents to $2.57 per 1,000 cubic feet.
Oklahoma energy stocks had a strong day in trading with many recording gains of 1% to 3% and Empire Petroleum finishing with a gain of 4%. Gulfport Energy recorded nearly the same.
APA Corp. (Apache) (APA) up 0.42 at 35.94 – change 1.18%
Cheniere (LNG) up 0.64 at 171.72 – change 0.37%
Chevron (CVX) up 0.46 at 150.71 – change 0.30%
ConocoPhillips (COP) up 0.14 at 116.83 – change 0.11%
Diamondback Energy (FANG) up 0.43 at 156.26 – change 0.27%
Energy Transfer LP (ET) up 0.07 at 13.79 – change 0.51%
Enterprise Products Partners (EPD) up 0.11 at 26.14 – change 0.42%
EOG Resources (EOG) down 0.35 at 121.08 – change 0.29%
Exxon Mobil (XOM) up 0.46 at 101.73 – change 0.45%
Kinder Morgan (KMI) up 0.14 at 17.64 – change 0.80%
Marathon Oil Corp. (MRO) up 0.24 at 24.71 – change 0.98%
NOV Inc. (NOV) up 0.19 at 20.45 – change 0.93%
Occidental Petroleum (OXY) up 0.27 at 60.44 – change 0.44%
Phillips 66 (PSX) up 0.22 at 134.29 – change 0.16%
Pioneer Natural Resources (PXD) up 1.72 at 228.74 – change 0.75%
Tellurian Inc. (TELL) up 0.03 at 0.76 – change 5,15%
Valero (VLO) down 0.62 at 131.91 – change 0.47%
CLOSING TOP UTILITY STOCKS
American Electric Power (AEP) down 0.29 at 80.04 – change0.35%
CenterPoint (CNP) unchanged at 28.30 – change 0.00%
Entergy (ETR) up 0.10 at 99.73 – change 0.10%