Petroleum News

• Is Most-Watched Stock Occidental Petroleum Corporation (OXY) Worth Betting on Now?
  
  Occidental (OXY) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
  Zacks.  Friday, 7 Oct 2022.
• Biden releases 10 million oil barrels Strategic Petroleum Reserve after OPEC decision
  
  President Joe Biden will order more oil released from the Strategic Petroleum Reserve as gas prices are on the rise and OPEC announced it was cutting production.
  Daily Mail.  Thursday, 6 Oct 2022.
• OPEC announces sharp cut to global oil production
  
  OPEC+ announced a decision to sharply cut oil production in an effort to boost sagging petroleum prices. The cut will likely lead to higher gas and energy prices in the U.S.
  CBS News.  Thursday, 6 Oct 2022.
• Oil prices to rise as two million fewer barrels to be produced each day
  
  Two million fewer barrels of oil are to be produced each day, equivalent to 2% of global supply, the Organisation of the Petroleum Exporting Countries (Opec) and Russia have agreed.
  Sky News.  Wednesday, 5 Oct 2022.
• Saudi Arabia and Russia drive OPEC alliance plans to cut oil production - propping up prices
  
  The 13 members of the Organization of the Petroleum Exporting Countries (OPEC), led by Riyadh, and their 11 allies headed by Moscow will hold a meeting on Wednesday.
  Daily Mail.  Monday, 3 Oct 2022.
• Zacks Industry Outlook Highlights ConocoPhillips, Occidental Petroleum, Hess and Cactus
  
  ConocoPhillips, Occidental Petroleum, Hess and Cactus have been highlighted in this Industry Outlook article.
  Zacks.  Monday, 3 Oct 2022.
• The Strategic Petroleum Reserve Is At Its Lowest Level Since 1984
  
  This year the Biden Administration has drawn down the Strategic Petroleum Reserve at the fastest rate in history. Here's what that means.
  Forbes.  Wednesday, 7 Sep 2022.
• OPEC, Russia Announce Small Cut In Oil Output For October
  
  The Organization of Petroleum Exporting Countries (OPEC) and its allies have agreed a small oil-production cut in October in a move aimed at stopping a slide in oil prices.
  Radio Liberty.  Monday, 5 Sep 2022.
• Nigerian Authorities: Oil Theft Becoming More Difficult to Address
  
  The managing director of the Nigerian National Petroleum Corp. (NNPC) sparked controversy this week when he said thieves from all levels of society were stealing 200,000 barrels of crude oil per day. ...
  Voice of America.  Friday, 2 Sep 2022.
• Climate Activists Superglued Themselves Inside UK Parliament Using A Petroleum-Based Product
  
  'We cannot afford to go on like this'
  Daily Caller.  Friday, 2 Sep 2022.
• Warren Buffett gets permission to buy up to half of Occidental Petroleum, boosting the shares
  
  Warren Buffett's Berkshire Hathaway received permission to purchase up to 50% of oil giant Occidental Petroleum.
  CNBC.  Sunday, 21 Aug 2022.
• Biden won't restock oil reserves until late 2023 but wants to make repurchase deals now
  
  The Biden administration is unveiling new proposed rules for replacing the roughly 260 million barrels of oil that it plans to sell from the Strategic Petroleum Reserve to blunt high gasoline prices.
  Washington Times.  Tuesday, 26 Jul 2022.
• House GOP calls for probe into Biden's 'mismanagement' of oil reserves after overseas sales
  
  House Republicans want Democrats to haul in Department of Energy officials to examine the Biden administration's handling of the Strategic Petroleum Reserve and recent overseas sales of domestic production despite U.S. ...
  Washington Times.  Tuesday, 19 Jul 2022.
• Watchdog Sues Biden Admin For Stonewalling Records On Emergency Oil Release
  
  The Strategic Petroleum Reserve has been depleted to its lowest levels since 1986
  Daily Caller.  Friday, 8 Jul 2022.
• Marathon Petroleum Stock Could Make A Comeback
  
  Marathon Petroleum (MPC) stock has been succumbing to the recent government pressure on big oil companies, last seen down 3.6% to trade at $78.81, after earlier slipping to its lowest level since March.
  Forbes.  Wednesday, 6 Jul 2022.

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