Saturday, February 6, 2016
Occidental: Still Producing Too Much Oil
Though oil continues plunging, the oil giants continue producing more. For Q4,
Occidental Petroleum (OXY)
had roughly flat production.
The worst part is that OXY plans to grow production by 2% to 4% in 2016. The stock has held up somewhat strong, but the inability to turn off the spigot remains troubling.
Disclosure: No positions mentioned. Please review the disclaimer page for more details.
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