Occidental Petroleum Shares Drop Amid Decline in Oil Prices and Iran Deal Announcements
Occidental Petroleum's shares fell by up to 8.6% as oil prices dropped to their lowest level since early March, following announcements of a potential deal between the U.S. and Iran to reopen the Strait of Hormuz. The deal is expected to increase global oil supply by 20%, leading to a significant decline in oil prices.
Tickers: $OXY
Topics: geopolitical_deal occidental_petroleum oil_prices president_trump strait_of_hormuz