Oxy CEO Vicki Hollub doesn't seem worried about White House pressure on buybacks, oil prices
Publishing timestamp: 2023-03-07 12:48:19
Summary
Oxy CEO Vicki Hollub says the current oil price range of $75-$80 is here to stay for the next few years, with modest upside risk to prices. White House has pressured oil companies to produce more, but Hollub says Occidental's capital spending plan will remain focused on buybacks and dividends. Warren Buffett's Berkshire Hathaway has grown to be among the top 10 stocks held by the company, and Mike Wirth of Chevron has indicated that the White House was not a factor in their buyback plans. Hollub also believes that the lack of supply and investment in the industry will keep prices higher.
Sentiment: NEUTRAL
Tickers: @CL.1, OXY, HES, BRK.B, BRK.A, CVX, .SPX,
Keywords: berkshire hathaway inc, wti crude (mar'23), energy, chevron corp, business news, occidental petroleum corp, hess corp, s&p 500 index, oil, oil and gas,