Shares of oil and gas companies are trading lower. The sector might be moving amid overall market weakness due to economic slowdown concerns following recent US data, which could negatively impact demand.
Portfolio Pulse from Benzinga Newsdesk
Shares of oil and gas companies are trading lower due to concerns about an economic slowdown following recent US data, which could negatively impact demand.

August 05, 2024 | 2:32 pm
News sentiment analysis
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NEGATIVE IMPACT
APA shares are trading lower due to concerns about an economic slowdown, which could negatively impact demand for oil and gas.
Economic slowdown concerns typically lead to reduced demand for oil and gas, negatively impacting companies like APA.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
BP shares are trading lower due to concerns about an economic slowdown, which could negatively impact demand for oil and gas.
Economic slowdown concerns typically lead to reduced demand for oil and gas, negatively impacting companies like BP.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
CVX shares are trading lower due to concerns about an economic slowdown, which could negatively impact demand for oil and gas.
Economic slowdown concerns typically lead to reduced demand for oil and gas, negatively impacting companies like CVX.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SLB shares are trading lower due to concerns about an economic slowdown, which could negatively impact demand for oil and gas.
Economic slowdown concerns typically lead to reduced demand for oil and gas, negatively impacting companies like SLB.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
XOM shares are trading lower due to concerns about an economic slowdown, which could negatively impact demand for oil and gas.
Economic slowdown concerns typically lead to reduced demand for oil and gas, negatively impacting companies like XOM.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80