From Nasdaq: 2025-05-04 14:00:00

In April, shares of oil and gas giants Chevron, APA Corporation, and Halliburton took a hit, dropping by 18.7%, 26.1%, and 21.9%, respectively. The decline was driven by the largest one-month drop in oil prices since November 2021, with Brent and WTI oil prices falling by 15% and 18%, according to CNBC. The plummet in stocks followed President Trump’s announcement of higher tariffs on multiple countries on “Liberation Day.” While stocks recovered by month-end, oil prices remained low due to ongoing trade tensions and potential production increases by Saudi Arabia in June.

Despite beating revenue expectations, Halliburton saw a 6.6% year-over-year revenue decline and offered cautious forward commentary following the April 2 tariff announcements. The possibility of more declines in the coming quarters and the impact of trade tensions on both demand and supply weighed on the company’s outlook. With OPEC+ expected to increase production in June, oil prices are likely to remain subdued, affecting oil-related stocks like Halliburton.



Read more at Nasdaq: Why Oil Stocks Plummeted in April