Crude prices retreated Wednesday and the pain landed squarely on exploration and production names, skipping refiners and midstream entirely. Here is why that mechanical link turned a commodity move into a sector-wide shakeout for some of the biggest names in the energy patch.
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EOG Resources drops 6% while ConocoPhillips and Occidental Petroleum each fall 5% as crude prices retreat with no company-specific news driving the ...
Oil Producers Slide as Crude Retreats: EOG Resources Drops 6%, ConocoPhillips and Occidental Petroleum Fall 5%
Crude prices retreated Wednesday and the pain landed squarely on exploration and production names, skipping refiners and midstream entirely. Here is why that mechanical link turned a commodity move into a sector-wide shakeout for some of the biggest names in the energy patch.
