Stock Track | Occidental (OXY) Plunges 5.22% in Pre-market as Oil Prices Tumble Amid Trade War Escalation
Occidental Petroleum saw its stock price plummet 5.22% in pre-market trading on Friday, as the oil sector faced significant pressure from tumbling crude oil prices. The sharp decline in oil prices was triggered by a perfect storm of negative factors, including escalating trade tensions between the U.S. and China, and increased output plans from OPEC+.Adding to the bearish sentiment, OPEC+ announced plans to increase oil output more aggressively than previously expected. The producer group now a