Oil producers in ‘dire situation,’ unable to ramp up output: Oxy CEO


Vicki Hollub, President and CEO, Occidental Petroleum Corporation, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California.

Michael Kovac | Getty Images

As oil prices surge to the highest levels since 2008, Occidental Petroleum CEO Vicki Hollub said U.S. producers cannot increase output right away.

“We’re in a really dire situation,” she said Tuesday at CERAWeek by S&P Global. “We’ve never faced a scenario where we need to grow production, when actually supply chains not only in our industry but every industry in the world [are] being impacted by the pandemic.”

U.S producers were…


0 0 votes
Article Rating

Investing app Acorns taps ‘choppy’ private markets at $1.9 billion valuation after scrapping SPAC

Previous article

Closing gender gap could boost global GDP by $2 trillion, Citi says

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Investing