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-0.000378357926598487 0 0.0041619371925843 0.00454029511918278 -0.00567536889897838 0.00908059023836557 0.0215664018161181 0.0253499810821037
Stock impact report

Buffett's Taking More Oxy Stock, So Maybe You Shouldn't [Yahoo! Finance News]

Occidental Petroleum Corporation (OXY) 
Last occidental petroleum corporation earnings: 2/27 04:13 pm Check Earnings Report
US:NYSE Investor Relations: oxy.com/investors/pages/default.aspx
Opinion) -- If Warren Buffett’s getting long oil, that has to be bullish, right? Hold up, there, wildcatter.Despite the headline news of Berkshire Hathaway Inc. taking on another 17 million shares of Occidental Petroleum Corp., April 15 is not an auspicious day for the oil sector.The same day, the International Energy Agency published a monthly oil market report that could easily sit on the horror shelves of any bookstore in Houston if they were open): Roughly a decade’s worth of global demand growth is set to be wiped out this year. Moreover, while the pain is most acute this quarter, the IEA expects demand in December will still be 2.7 million barrels a day lower, year over year. In an ordinary oil market, that would be deemed a catastrophe; in today’s, it represents recovery. The IEA’s projections imply more than 1.5 billion barrels of oil flowing into storage this quarter, potentially maxing it out despite the much-ballyhooed Trump/OPEC+ deal. At that point, double-digit oil price Show less Read more
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