Oil companies Occidental Petroleum (OXY) and BP (BP) are both suffering today. BP stock is down about 4%, while OXY is down over 5%. One common thread seems to link these two to their mutual losses, and it's a point that may be entirely overblown. I'm bullish on both right now. Explosively high gas prices suggest solid returns for some time to come, and the demand destruction that seems to be underway will only go so far as to restrain those prices. At least, that's likely to be the case in the near term.
https://www.tipranks.com/news/article/bp-occidental-petroleum-fall-despite-steady-oil-prices?utm_source=advfn.com&utm_medium=referral
Occidental Petroleum (NYSE:OXY)
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Occidental Petroleum (NYSE:OXY)
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