Occidental Petroleum (OXY) has been punished severely from the recent oil price plunge, dropping from more than $84 per share in mid-2018 to only $13.50 per share at the time of writing. Many investors worry that the company, with a high debt burden, cannot have enough liquidity to survive during this low oil price environment. However, we think the oil price will eventually bounce back in the next two years, and Occidental Petroleum has enough liquidity to survive through the current crisis.
Oil price will bounce back
West Texas Intermediate ((WTI)) has plunged