BUZZ-U.S.-listed oil stocks: Down after OPEC maintains production

Fri Nov 28, 2014 11:41am EST
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** Oil stocks dominate the list of top losers among NYSE stocks on Friday after OPEC maintained production at 30mln/bpd

** Brent crude fell to a fresh four-year low under $72 a barrel on Friday after OPEC decided not to cut output, a move investors said would leave the oil markets heavily over supplied

** U.S. crude oil was trading at $68.91 per barrel; Brent at $72.89 at 1125 ET

** We think the stronger companies will use that opportunity to make smart acquisitions for the future - Wunderlich Securities analysts

** It also clearly gives a price signal to the world not to pursue marginal demand reduction measures as there is plenty of supply at a reasonable price - FBR & Co analysts

** U.S.-listed shares of Energy XXI down 29 pct at $4.46; Halcon Resources Corp down 20 pct at $2.29; Talisman Energy Inc down 20.3 pct at $4.62; Seadrill Ltd down 9.3 pct at $14.5

** Oil field services behemoths also fall - Halliburton Co down 10.4 pct at $42.43, Schlumberger NV down 7.2 pct at $86.13 and Baker Hughes Inc down 8.9 pct at $57.1

** Chevron Corp down 5.4 pct at $108.96, Exxon Mobil Corp down 3.3 pct $91.38 and Hess Corp down 8.9 pct at $73.65

** Analysts' reactions on OPEC decision