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Posted by
Two Blokes Apr 18 -
Filed in
Stock
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6 views
The selloff on OXY since my last writing was overdone for several reasons. The sharp drop in oil prices (currently around $65 only) is unlikely to sustain, creating a large bias for OXY's earning prospects. Potential catalysts that lead to an oil price recovery include record low level of the U.S. Strategic Petroleum Reserve and also multi-year low level of crude oil inventory.
