03:15 PM EDT, 07/16/2024 (MT Newswires) -- TotalEnergies (TTE) shares were down over 1% in recent Tuesday trading, after the oil major said that it expects Q2 downstream results to be affected by a decrease in refining margins in Europe and the Middle East.

The company expects its output to be close to 2.45 million barrels of oil-equivalent a day, within the high end of its guidance range.

The results would be partially compensated by a higher utilization of refineries and an increase in marketing results.

Meanwhile, the company said Q2 cash flow is expected to be in line with its $2.5 billion to $3 billion annual guidance and its integrated power segment results to be around $500 million.

Price: 68.06, Change: -1.07, Percent Change: -1.55