Occidental Petroleum (OXY) News

Concerns over the deadlock in the ceasefire overshadowed the oil reserve release plan, driving oil prices higher toward the $100 mark.

The impact of Iran's official statements overshadowed the release of reserve plans, and oil prices continued to rise.

Zhitong Finance08:44

The IEA has approved the release of a record amount of crude oil reserves, with a scale of 400 million barrels, more than doubling the level seen in 2022.

Member states, including the United Kingdom, Germany, and France, outlined their respective contributions. Germany will release nearly 20 million barrels of oil reserves. The United Kingdom will contribute 13.5 million barrels of crude oil, and French President Macron stated that the release will be arranged within the next few days. U.S. President Trump stated on the same day that the U.S. government is working to maintain the flow of oil supplies. 'The IEA's release of strategic petroleum reserves will significantly lower oil prices. Oil prices will continue to fall, but we will not withdraw (from Iran) prematurely.'

wallstreetcn06:40

The devil is in the details! "Largest-ever strategic petroleum reserve release": Not only is the scale insufficient, but the speed cannot be ramped up either.

The IEA announced the release of 400 million barrels of strategic petroleum reserves, marking the largest-scale release in history, with the United States contributing 172 million barrels. However, the market is more focused on the pace and scale of the release: institutional estimates suggest that the actual global deployment rate may be only about 1.2 million barrels per day, while the supply gap caused by the disruption of the Strait of Hormuz reaches 11 to 16 million barrels per day. Additionally, there exists a 13-day lag in the deployment of U.S. oil reserves along with production capacity constraints. This release might prove to be too little, too late.

wallstreetcn09:12

Express News | The IEA's announcement of reserve release may instead amplify demand, analysts say.

BreakingsMar 11 22:53

Why Did Oil Prices Rise Instead of Fall After the IEA Announced Its Largest Ever Stock Release? A Comprehensive Analysis

①Following the IEA's announcement of the largest-ever coordinated release of strategic oil reserves, international oil prices rose instead of falling, surging nearly 5% on Wednesday; ②Traders believe that the emergency release of oil reserves, against the backdrop of tensions with Iran, is insufficient to offset the impact of nearly halted oil flows through the Strait of Hormuz, production disruptions in the Persian Gulf region, and shortages in crude oil storage.

cls.cn09:02

A '180-degree turnaround' within hours! The U.S. shifted from 'opposing' to 'strongly promoting' the largest-ever release of strategic oil reserves, driven by concerns from Trump.

According to reports, a senior White House official revealed that this "180-degree shift" was entirely due to a change in Trump himself – he was persuaded by his advisors that action must be taken to suppress oil price volatility. U.S. officials disclosed that the core driving force behind this release was the Trump administration's deep concern over the potential blockade of the Strait of Hormuz.

wallstreetcn08:47

Express News | U.S. Department of Energy: The United States will release 172 million barrels of oil from the Strategic Petroleum Reserve. The release from the Strategic Petroleum Reserve will begin next week. Based on the planned release rate, it will take approximately

Breakings06:55

Iran fires at commercial vessels, warning the world: oil prices could surge to $200 per barrel.

On Wednesday, Iran's Revolutionary Guard fired at a merchant vessel and issued a stern warning: 'Get ready for oil prices at $200 per barrel.' Trump stated that 'Iran has nothing left to blow up,' predicting a decline in oil prices, while Israel vowed to continue its military actions 'without a time limit.'

Golden10 Data06:42

Overnight U.S. Stocks | S&P 500 Index Falls for Second Consecutive Day, Oil Stocks Strengthen, Oracle (ORCL.US) Surges Over 9%

At the close, the Dow Jones Industrial Average fell by 289.24 points, or 0.61%, to 47,417.27 points; the Nasdaq Composite Index rose by 19.03 points, or 0.08%, to 22,716.13 points; and the S&P 500 Index declined by 5.68 points, or 0.08%, to 6,775.80 points.

Zhitong Finance06:15

Express News | Trump says the US will 'slightly' cut its strategic oil reserves

Breakings05:03

Occidental Petroleum Options Spot-On: On March 11th, 95,171 Contracts Were Traded, With 902.97K Open Interest

On March 11th ET, $Occidental Petroleum(OXY.US)$ had active options trading, with a total trading volume of 95,171 options for the day, of which put options accounted for 25.0% of the total

Futu News04:30

Trump stated that the military operation against Iran is 'about to conclude,' hinting at the possibility of striking additional targets, while Iran warned that the U.S. might become embroiled in a prolonged war of attrition.

Trump stated that the operation against Iran is far ahead of schedule and has not yet concluded. Iran indicated a shift from 'proportional retaliation' to 'serial strikes,' claiming that the U.S. Navy has 'withdrawn' from waters near Iran; it confirmed attacks on two vessels in the Strait of Hormuz, reiterating that the U.S. and its allies have no right to passage. The UK reported that three ships were attacked in the strait on Wednesday; Macron mentioned that coordinating escort operations in the strait will take several weeks, and the G7 will organize the release of oil reserves in the coming days; Trump does not believe Iran mined the strait, stating that U.S. forces have nearly destroyed all Iranian mine-laying vessels; the U.S. military threatened to strike Iranian civilian ports used for military purposes in the strait. A preliminary U.S. military investigation attributed the attack on an Iranian school to a 'misstrike,' while the White House stated that investigations are ongoing.

wallstreetcn04:21

Express News | U.S. Stock Market Close: Mixed Performance Among Major Indices, Oil Stocks Rally

Breakings04:01

Shares of Oil-related Companies Are Trading Higher as Crude Prices Recover Some of Yesterday's Losses on Concerns That the Middle East Conflict Will Continue to Affect Marine Energy Transport to Global Markets.

Benzinga02:42

Can tapping into petroleum reserves alleviate the price shocks brought about by U.S.-Iran tensions?

As the conflict has disrupted oil exports from the Persian Gulf, governments worldwide have unanimously agreed to release 400 million barrels of crude oil from emergency reserves in order to stabilize skyrocketing oil prices. This planned release by member countries of the International Energy Agency (IEA) will be the largest in the organization's history. The available reserves include the U.S. Strategic Petroleum Reserve (SPR), which was established in the 1970s to provide security against energy crises.

Bloomberg02:17

Berkshire's Deal for Occidental Chemicals Unit Is a Winner as Chemical Stocks Surge -- Barrons.com

Barron's02:04

Goldman Sachs Maintains Sell on Occidental Petroleum, Raises Price Target to $54

Benzinga01:59 · Ratings

Oil's $30 Whipsaw Just Put Buffett's Biggest Energy Bet Back on Screen

Yahoo Finance01:07

Largest in history! The IEA announces the release of 400 million barrels of emergency oil reserves onto the market.

①The International Energy Agency (IEA) agreed on Wednesday to release 400 million barrels of oil reserves to address supply disruptions caused by the Iran conflict, marking the largest coordinated release action in the agency's history; ②Analysts stated that this measure would have a limited impact on oil prices in the event that the Iran conflict causes the Strait of Hormuz to be nearly closed to shipping.

cls.cnMar 11 23:44

Express News | Preliminary findings from an internal U.S. military investigation indicate that the attack on an Iranian elementary school was due to the use of outdated data.

BreakingsMar 11 23:19