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Occidental Petroleum Corporation (OXY) gains as China adds oil to its strategic reserves and lifting global demand

Occidental Petroleum Corporation (OXY) currently trades at $11.93 and has grown by 11% today. Energy-price gains are fueling part of Thursday’s rally. China is reportedly buying low, adding oil to its strategic reserves and lifting global demand. What’s more, there is hope for a truce in the Saudi-Russian fight over market share: President Donald Trump said he is confident the countries will reach an agreement.

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Based on this information, investorsQ rates this stock 5 out of 10. We give it this rating based on current information such as Dow futures were up 1.7%. S&P 500 futures rose 1.6%, and Nasdaq Composite futures advanced 1.1%. The high forecast for Occidental Petroleum Corporation is $58.00 and the low is $3.00. Notably, the company’s market cap is $11.03 with a 52 week high of $68.83 and a 52 week low of $9.00.

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