Crude oil prices fell Thursday while OPEC+ delays increased production

 

The decision by OPEC+ to delay restarting its oil production growth by three months initially sent crude oil prices climbing on Thursday—then they settled lower about supply concerns.

Reuters reported the Organization of Petroleum Exporting Countries and allies, better known as OPEC+, decided to wait three months before restarting increased oil production. It was the time OPEC+ put off a decision to grow production. Instead of increasing production by 180,000 barrels a day in January, the group delayed the increase until April.

West Texas Intermediate crude slipped 0.4% to close at $68.30 a barrel in trading on the New York Mercantile Exchange.

Brent crude, the global standard, dropped 0.3% and finished at $72.09 a barrel.

Oklahoma energy stocks were split for the day with some making gains and others experiencing losses.

For instance, Canoo dropped 4% while Gulfport Energy gained 4%.

Alliance Resource Partners, L.P.
27.27 USD+0.25 
Canoo Inc
0.34 USD−0.014 
Coterra Energy Inc
25.66 USD+0.030 
Devon Energy Corp
35.96 USD−0.32 
Empire Petroleum Corp
6.51 USD+0.060 
 Expand Energy Corp
96.73 USD−0.75 
Gulfport Energy Corp
180.14 USD+5.00 
Helmerich and Payne Inc
34.79 USD−0.28 
LSB Industries Inc
8.88 USD−0.090 
Mach Natural Resources LP
15.10 USD−0.13 
 Mammoth Energy Services Inc
3.21 USD−0.040 
Matrix Service Co
13.34 USD+0.16 
NGL Energy Partners LP Unit
4.72 USD+0.020 
OGE Energy Corp
43.10 USD+0.100 
ONE Gas Inc
74.04 USD−0.88 
ONEOK Inc
110.12 USD+1.38 
Ovintiv Inc
42.67 USD+0.090 
PHX Minerals Inc
3.88 USD+0.030 
SandRidge Energy Inc
11.18 USD−0.12 
Unit Corp
29.08 USD+0.28 
Vital Energy Inc
30.41 USD−0.60 
Williams Companies Inc
57.16 USD+0.86