OXY - XOP: Get Ready For The Resilient U.S. Shale Patch To Bounce Back Strong

April, 13 2021 02:56 PM Occidental Petroleum Corporation

With WTI currently trading around $60/bbl, many shale oil producers can now generate significant free-cash-flow.
In April, Permian oil production actually ticked up as more rigs are being put to work.
Bottom line is that U.S. shale oil production is now expected to grow by 500,000 bpd by year-end.
However, the re-opening of the economy due to vaccines, combined with stimulus checks in consumers' pockets, means gasoline demand will be strong and keep oil prices high.
As a result, a domestic energy ETF should present an excellent short-term opportunity for investors, and a recent pullback in O&G stock prices is a good entry point.

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Company Name:	Occidental Petroleum Corporation
Stock Symbol:	OXY
Market:	NYSE
Website:	oxy.com