The Teukolsky equations are currently the leading approach for analysing stability of linear massless fields propagating in rotating black holes. It has recently been shown that the geometry of these equations can be understood in terms of a connection constructed from the conformal and complex structure of Petrov type D spaces. Since the study of linear massless fields by a combination of conformal, complex and spinor methods is a distinctive feature of twistor theory, and since versions of the twistor equation have recently been shown to appear in the Teukolsky equations, this raises the question of whether there are deeper twistor structures underlying this geometry. In this work we show that all these geometric structures can be understood naturally by considering a {\em 2-dimensional} twistor manifold, whereas in twistor theory the standard (projective) twistor space is 3-dimensional.