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BUZZ-UK oil producers: weaken amid Citi oil price forecast cut

Reuters - UK Focus

** Oil producers' shares down after Citigroup (NYSE: C - news) analysts cut their 2015 oil price forecast by 8 pct to $58/barrel, and their 2016 forecast by 10 pct to $63/ barrel

** Producers EnQuest, Soco, Premier (NasdaqGS: PINC - news) , Genel, Tullow down 1.4 to 5 pct

** Brokerage cuts PT on all stocks, with the largest drop on Genel: from 900p to 580p

** "We think the challenges for the European E&P sector will persist ... and the market will look to the upcoming 1H15 results to see how management teams are adapting to the tough environment," Citigroup analysts said in a note

** Genel at record low of 389p; Tullow at levels last seen in 2006; Soco and Premier at 4-month lows

** Decent volumes on all stocks, with more than half of Genel's daily avg going through in the first two hours of trade (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)