Explain that. I would say it is due to oil being looked at as big bad polluters. One week ago the stock would have moved up two dollars with that type price change. Most all oil companies are opening down with the price increase. There are consequences.
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I don’t know why nobody is talking about the drilling moratorium?????
You can't pronounce a trend based on one or two days of activity. Generally, oxy's market value will follow the price of oil up or down. There are a thousand variables (tax rates and inventory for example) that will affect how closely it follows the price of oil. It's fair to say that if oil futures doubled, oxy's market value would greatly increase as well. The reverse is also true.
There was an inventory build not decrease.
Biden’s moratorium on drilling released earlier this week. Oil price goes up due to forecasted decrease in supply. Oil companies go down because their plans and budgets are all f***d up now and their forecasted production will decrease.
Market moves independently of political sentiment and is more complex than simple conspiracy theories like these. Of course a gullible can believe anything other than the truth. How do one know who is truthful? Look at personal and financial dealings of the person. The one hiding and showing bigotry is most likely lying.