Occidental Petroleum Stock Spikes. Here Are the Reasons Why.

This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

https://www.barrons.com/articles/occidental-petroleum-oxy-stock-carl-icahn-warren-buffett-51646648001


  • Order Reprints

  • Print Article

Occidental Petroleum stock was rising sharply Monday. There are three reasons why.

First, oil prices were surging Monday on supply fears as the U.S. and its allies were considering a ban on Russian oil after Moscow’s invasion of Ukraine. West Texas intermediate crude oil, the U.S. benchmark, rose 6% to $122.66 a barrel. International benchmark Brent was up 5.8% to $124.96 a barrel; it had reached $130 a barrel in early trading.

Secretary…