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Occidental Petroleum shares dip amid broader market slump

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Occidental Petroleum Corp (NYSE:).’s shares closed at $65.18 on Friday, reflecting a 1.93% decrease and marking a second consecutive day of losses amid a broader market downturn. The energy company’s share price is now $10.93 below its one-year peak value of $76.11, which was achieved on November 7th, 2023.

The Friday slump also saw a notable drop in trading volumes for Occidental Petroleum, with only 8 million shares changing hands, significantly lower than the daily average trading volume of 9.3 million shares.

The downward trend was not confined to Occidental Petroleum alone. Other energy companies, such as Chevron Corp. (NYSE:), EOG Resources Inc (NYSE:)., and Pioneer Natural Resources (NYSE:) Co., also experienced a fall in their stock prices on Friday, indicating a sector-wide impact of the market downturn.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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