01:59 PM EDT, 09/08/2025 (MT Newswires) -- Energy stocks were lower Monday afternoon, with the NYSE Energy Sector Index down 0.5% and the Energy Select Sector SPDR Fund (XLE) shedding 0.7%.

The Philadelphia Oil Service Sector index was decreasing 1.3%, and the Dow Jones US Utilities index was falling 1.1%.

On Sunday, eight OPEC+ members agreed to increase production from October by 137,000 barrels a day. That's lower than monthly increases of about 555,000 barrels per day for September and August and 411,000 barrels in July and June, Reuters reported.

Front-month West Texas Intermediate crude oil was rising 0.8% to $62.37 a barrel, and the global benchmark Brent crude contract was advancing 0.9% to $66.08 a barrel. Henry Hub natural gas futures were 1.9% higher at $3.11 per 1 million BTU.

In corporate news, SM Energy ( SM ) shares were down 0.8% after the company said Monday that Chief Executive and President Herbert Vogel will retire as CEO March 1, and that he has already resigned as president as of Sept. 4.

Kodiak Gas Services ( KGS ) shares fell 4.1% after the firm reported the pricing of a secondary offering of 10 million shares at $34.40 per share. The shares are being sold by Frontier TopCo Partnership, an affiliate of EQT Infrastructure funds.

Ecopetrol ( EC ) said Monday it entered into a confidentiality agreement with Canadian gas producer Canacol Energy in late August to "facilitate the exchange of information." Ecopetrol ( EC ) shares added 0.4%.