Crude oil prices tumbled more than 2% on Wednesday and Oklahoma energy stocks felt the pain as well with several firms recording losses of 4% and 5%.
The oil price plunge came days ahead of the weekend meeting of OPEC+ producers who are expected to support the idea of another increase in production in October. Eight members of OPEC and their allies will meet Sunday to consider raising oil production.
Global benchmark Brent crude finished down $1.54 or 2.23% at $67.60 per barrel.
West Texas Intermediate in the U.S. lost $1.62 or 2.45% and closed at $63.97 a barrel on the New York Mercantile Exchange.
But gas prices rose $0..056 or 1.86% to finish the day at $3..065 per MMBtu.
A tough day on Wednesday for most Oklahoma energy stocks as they experienced losses. Five percent slides were recorded by Helmerich & Payne and Vital Energy while 4% losses were recorded by Devon Energy, Matrix Services and SandRidge Energy.