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Why Occidental Petroleum Stock Is Plunging Today

Why Occidental Petroleum Stock Is Plunging Today

Shares of Occidental Petroleum(NYSE: OXY) tumbled more than 10% by 3 p.m. EDT on Wednesday. Weighing on the oil company were its weak first-quarter results and its struggles to manage its lofty debt load amid crashing crude oil prices. Occidental Petroleum posted a steep loss during the first quarter.