The impact of President Trump’s world-wide tariffs announced Wednesday had a shocking impact on Oklahoma energy companies as some recorded plunging values of 12% to 19%.
Every one of the Oklahoma energy stocks followed daily by OK Energy Today recorded negative territory and for some, it was more of a steep cliff rather than a slide into losses for the day.
Vital Energy had the greated percentage drop at 19% at the end of Thursday’s trading. Others with double-digit losses included Helmerich & Payne at 15%; Devon Energy at nearly 13%; Ovintiv at near 11% and Matrix Service Co. at 11%. Empire Petroleum fell 10%.
The state’s major utilities were not immune as ONEOK dropped $7.67 or 7.64% to $92.70 per share.
The plunge in crude oil prices, both Brent and West Texas Intermediate, was the greatest since 2022. It came as President Trump announced new tariffs on countries around the world. His announcement on Wednesday was followed Thursday by the ministers of OPEC+ countries deciding to increase oil output from 135,000 originally planned to 411,000 barrels per day in May.
