July 5, 2016 / 3:27 PM / a year ago

BUZZ-Oil producers: Shares down on worries of lower demand

1 Min Read

** U.S. and Toronto listed shares of oil producers trade lower after crude fell below $49 a barrel, pressured by concerns that a potential slowdown in economic growth could sap demand and by persistent signs of abundant supply despite another militant attack on Nigeria's oil industry

** Brent crude was down 4 pct at $48 a barrel at 1501 GMT; U.S. crude fell 2.2 pct to $46 a barrel

** Exxon Mobil Corp down 1.3 pct, Chevron Corp down less than a pct

** Biggest losers: California Resources Corp down 13.7 pct, Whiting Petroleum Corp 11.7 pct, Denbury Resources Inc 13.4 pct, Southwestern Energy Co 9.8 pct, Pioneer Energy Services 10.7 pct

** S&P Energy Index down 2 pct

** Toronto Listed stocks: Enerplus Corp down 7.5 pct, MEG Energy Corp 6.7 pct, Total Energy Services Inc down 5 pct

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