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Occidental Petroleum (OXY) Stock Declined Alongside Oil Prices

NEW YORK (TheStreet) -- Occidental Petroleum (OXY - Get Report) stock closed down by 3.09% to $61.22 in Monday's trading session, as oil prices hit fresh 12-year lows today.

Based in Houston, Occidental Petroleum is engaged in oil and gas exploration and production.

China's stocks tumbled again today, fueling investors' concerns that the world's second-largest oil consumer will be unable to contribute to demand for the oversupplied commodity.

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"The focus is still on China and the demand concerns in China moving forward into 2016," Tony Headrick, an energy market analyst at CHS Hedging, told Reuters.

Crude oil (WTI) is plummeting by 6.15% to $31.12 per barrel and Brent crude is diving by 6.86% to $31.25 per barrel this afternoon, according to the CNBC.com index.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of...


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