BUZZ-US energy sector drops ahead of OPEC+ decision

Reuters12-05
BUZZ-US energy sector drops ahead of OPEC+ decision

** S&P 500 energy sector .SPNY falls 2.6%, tracking losses in crude prices O/R

** Brent crude LCoc1 drops 1.6% to $72.42 per barrel and U.S. WTI crude falls 1.8% to $68.64 per barrel, as traders awaited an imminent OPEC+ decision on supply

** OPEC+ members meet on Thursday, and are likely to extend output cuts until the end of the first quarter of next year, industry sources told Reuters

** Energy majors Exxon Mobil XOM.N and Chevron CVX.N both down over 2%

** Halliburton HAL.N, Phillips 66 PSX.N, Devon Energy DVN.N, Diamondback Energy FANG.O and Marathon Petroleum MPC.N among the top pct losers on the energy index, down between 3.3% and 3.8%

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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