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Fly News Breaks for January 6, 2020
OXY
Jan 6, 2020 | 07:33 EDT
Wells Fargo analyst Roger Read lowered his price target for Occidental Petroleum to $42 from $48, while reiterating an Equal Weight on the shares. The analyst has reduced his forecast for global natural gas realizations as the global gas glut has/will reduce realizations at regional pricing hubs, increase the price competition for spot LNG and, on the margin, pressure wider discounts for Brent-linked contract terms. Read also expects weaker global natural gas prices to persist throughout 2021 with some modest improvement by 2022.
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