TLRY is probably not that close to sustained profitability, but it has built the balance sheet to tough out these hard times. Read More...
Motley Fool
Why Chevron, Occidental Petroleum, and Devon Energy Rallied This Week
Shares of large-cap oil and gas companies, including Warren Buffett holdings Chevron (NYSE: CVX) and Occidental Petroleum (NYSE: OXY), along with shale pure-play Devon Energy (NYSE: DVN), were up strongly on the week, rising 12.4%, 14.7%, and 20.1%, respectively, through Thursday. After oil stocks fell in September on mounting recession worries, OPEC+ surprised the markets this week with a larger-than-expected coordinated production cut. On Wednesday, members of OPEC+ agreed to a 2 million barrel-per-day production cut, which was larger than expected and in defiance of U.S. calls to continue producing amid global inflation challenges.
