The extent of the oil price rout was laid bare on Thursday with some big cap names clearly suffering the consequences.
Also in focus for US investors was the new delux business jet from Japanese car maker Honda and tech news from the world's largest retailer Walmart.
To black gold first and futures for Brent crude for January fell 1.3% to US$39.56 and WTI also dropped over 1% to US$36.75 a barrel as OPEC news once again crashed sentiment.
The cartel of exporters revealed output rose in November such that total production for the month rose by 230,100 barrels a day to 31.695 million barrels a day, largely due to higher output from Iraq.
It means OPEC is pumping around 900,000 barrels a day more than it expects will be needed next year.
ConocoPhillips (NYSE:COP), the largest US independent oil company, expects capex in 2016 to be 25% lower than this year's estimated budget, as it responds to the slump.
The Houston, Texas-based company said in a statement on Thursday that it expected 2016 capital budget of $7.7bn, and also said it expects to raise $2.3bn from non-core asset sales. Shares in Conoco however nudged 2.33% higher.
Elsewhere, Honda (NYSE:HMC) finally flew into the world of aeroplanes with aplomb as US authorities have rubber stamped its $4.5mln business jet. It comes three decades after Honda’s founder started developing the product and well over ten years' of testing and fine-tuning.
The group now has 25 of the seven-seater luxury planes in final assembly in North Carolina and is preparing for pilot training and deliveries by the end of the year.
And in a sign of things to come, Walmart (NYSE: WMT) said it was now testing its own mobile payment system where shoppers can pay through an app at the cash register.
WHAT'S HOT AND WHAT'S NOT?
RISERS:
Relmada Therapeutics (OTCMKTS:RLMD) jumped 10.4% to $2.55 after the clinical-stage company unveiled topline results for a proof-of-concept study with BuTab.
GEAR International (OTCMKTS:GEAR) advanced 36% to $0.0015. Cannaworx, Inc., a portfolio client of the developer of cannabinoid sciences acquired an advanced CLCO2 system from Innovative Extractions that facilitates the temperature driven extraction and concentration processes of cannabis products.
Klondex Mines (NYSEKMT:KLDX) inched up 0.7% to $2.13 after the Canada-based exploration company reported high grade results from its Nevada projects, which point to further mineralisation at the properties.
FALLERS:
OriginClear (OTCMKTS:OOIL) slipped 5.6% to $0.0320. The provider of water treatment solutions said its unit, Dallas-based Progressive Water Treatment (PWT) has put into operation a water processing system for a 75,000 barrel-per-day refinery operated by Delek Refining in Tyler, Texas.
Amarantus BioScience Holdings (OTCQX:AMBS) retreated 6.4% to $0.0608. The biotechnology company retained WallachBeth Capital to evaluate strategic options for its MANF gene therapy program.
Neutra (OTCMKTS:NTRR) fell 5% to $0.950 even as the development-stage company signed a letter of intent to partner.