Shares of energy companies are trading lower amid a drop in oil after OPEC+ delayed its planned meeting from Nov. 25-26 to Nov. 30.
Portfolio Pulse from Benzinga Newsdesk
Energy company stocks are down due to a decline in oil prices following OPEC+'s decision to postpone its meeting from Nov. 25-26 to Nov. 30.
November 22, 2023 | 2:34 pm
News sentiment analysis
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NEGATIVE IMPACT
APA Corporation's stock is likely to experience a short-term decline due to the drop in oil prices following OPEC+'s meeting delay.
As an energy company, APA's stock performance is closely tied to oil prices, which have fallen due to the OPEC+ meeting postponement.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
BP's shares are expected to face a short-term negative impact from the recent drop in oil prices caused by the OPEC+ meeting postponement.
BP's financials are significantly influenced by oil market dynamics, and the delay in OPEC+'s meeting has led to a decrease in oil prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Canadian Natural Resources Limited (CNQ) may see its stock price drop in the short term due to the oil price decline after OPEC+'s meeting delay.
CNQ's stock is sensitive to changes in oil prices, which have decreased following the news of OPEC+'s delayed meeting.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ConocoPhillips (COP) stock is likely to be negatively affected in the short term by the fall in oil prices due to OPEC+'s meeting postponement.
As an oil and gas company, COP's stock price is typically impacted by movements in oil prices, which are currently down.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Cenovus Energy Inc. (CVE) may experience a short-term stock price decline due to the oil price drop following the OPEC+ meeting delay.
CVE's financial performance is closely linked to oil prices, which have been negatively affected by the OPEC+ decision.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Eni S.p.A. (E) shares are expected to decline in the short term due to the adverse impact of lower oil prices from the OPEC+ meeting postponement.
Eni's stock is likely to be affected by the oil price decline, which is a result of the delayed OPEC+ meeting.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
EOG Resources, Inc. (EOG) could see a short-term negative impact on its stock price due to the drop in oil prices after the OPEC+ meeting postponement.
EOG's stock performance is directly related to oil market trends, which are currently experiencing a downturn.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Equinor ASA (EQNR) stock is likely to face a short-term downturn due to the negative impact of falling oil prices following the OPEC+ meeting delay.
Equinor's financials are influenced by oil prices, which have taken a hit due to the uncertainty surrounding the OPEC+ meeting.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Halliburton Company (HAL) may see its stock price negatively affected in the short term by the decline in oil prices after the OPEC+ meeting was postponed.
HAL's business is closely tied to the oil industry, and the delay in the OPEC+ meeting has led to lower oil prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Marathon Oil Corporation (MRO) could face a short-term stock price decline due to the oil price drop following the OPEC+ meeting postponement.
MRO's stock is sensitive to oil price fluctuations, which are currently on the downside due to the OPEC+ meeting delay.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nine Energy Service, Inc. (NINE) shares are likely to experience a short-term drop due to the decline in oil prices caused by the OPEC+ meeting delay.
NINE's operations are directly impacted by oil market conditions, which are currently unfavorable due to the OPEC+ decision.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ovintiv Inc. (OVV) may see a short-term negative impact on its stock price due to the oil price decline following the OPEC+ meeting postponement.
OVV's financial performance is closely linked to oil prices, which have been negatively affected by the OPEC+ decision.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Petróleo Brasileiro S.A. - Petrobras (PBR) stock is expected to decline in the short term due to the adverse impact of lower oil prices from the OPEC+ meeting postponement.
PBR's stock is likely to be affected by the oil price decline, which is a result of the delayed OPEC+ meeting.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Shell plc (SHEL) could see a short-term negative impact on its stock price due to the drop in oil prices after the OPEC+ meeting postponement.
SHEL's stock performance is directly related to oil market trends, which are currently experiencing a downturn.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Schlumberger Limited (SLB) may see its stock price negatively affected in the short term by the decline in oil prices after the OPEC+ meeting was postponed.
SLB's business is closely tied to the oil industry, and the delay in the OPEC+ meeting has led to lower oil prices.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tenaris S.A. (TS) could face a short-term stock price decline due to the oil price drop following the OPEC+ meeting postponement.
TS's stock is sensitive to oil price fluctuations, which are currently on the downside due to the OPEC+ meeting delay.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
TotalEnergies SE (TTE) shares are likely to experience a short-term drop due to the decline in oil prices caused by the OPEC+ meeting delay.
TTE's operations are directly impacted by oil market conditions, which are currently unfavorable due to the OPEC+ decision.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80