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Author: luxmain   😊 😞
Number: of 15062 
Subject: OXY 83% drop in profit
Date: 08/02/2023 7:11 PM
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https://finance.yahoo.com/news/1-occidental-petrol...

UPDATE 1-Occidental Petroleum profit slumps 83% on lower energy prices

Benchmark Brent crude prices averaged $80 a barrel in the second quarter of 2023, compared with $110 a year ago.

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A thought. If profits drop 83% going from $110 average to $80 average, what happens if the 2014-2022 era reappears?

From late 2014 till 2022, the price of Brent never went HIGHER than $85.

https://finance.yahoo.com/chart/BZ%3DF

It averaged around to $55 in that 8 year period.

Seems that would not be ideal for OXY and would lead to prolonged losses.

lux
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