Occidental Petroleum is a large oil and gas company that operates globally, including significant shale operations in the United States. Like many oil and gas companies, Occidental’s profitability is tied closely to the price of oil. When oil prices are high, Occidental tends to be more profitable; when prices are low, it tends to be less profitable.
However, profitability at lower oil prices also depends on the company’s efficiency, cost structure, debt level, and strategic decisions. For instance, Occidental has had a high debt level in the past due to acquisitions, which could impact its profitability in a low oil price environment.
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#oil #warrenbuffett #financenews #economy
6 Comments
I came here for the truth!
"if" we are in a recession?? We've been in a recession for a while now, and headed for a bad depression
I thought Warren sold that position. ?
❤
Why are we selling US oil to other countries when we will be needing it right here. The attack on the Nord Stream pipeline is related to all of this. Put 2 and 2 together and you'll figure out who is responsible for this corruption. People will risk freezing to death this coming winter because of these criminal acts. They were celebrating while the cameras were still on.
And when oil prices go down, so does the CAD