Occidental Petroleum Set to Report Earnings Drop. What’s Dragging on the Buffett Favorite.
Occidental Petroleum the U.S. oil producer that’s 28% owned by Warren Buffett’s Berkshire Hathaway is due to report earnings on Tuesday. Slumping crude prices, as well as pledges by President Donald Trump to raise energy production and keep oil prices low, have been weighing on the shares. Occidental boasts a strong position in U.S. shale oil production, a sector that Trump wants to encourage.