Warren Buffett's OXY stock bet is down this much

Core Viewpoint - Warren Buffett's investment in Occidental Petroleum (OXY) is under significant pressure as the stock has dropped to its lowest level since February 2022, currently trading at $36.26, down 26$50, marking a significant reversal in its performance [1]. - Berkshire Hathaway owns nearly 265 million shares of Occidental at an average cost of $54.20, resulting in an estimated paper loss of$4.7 billion, making it one of the most challenged equity holdings in Buffett's portfolio [4]. Market Conditions - The recent downturn in OXY is attributed to West Texas Intermediate (WTI) crude prices falling below $60 per barrel, influenced by fears of a global recession and new trade tensions due to U.S. tariffs on China [5]. - Despite stronger pricing reported in Q1, with Occidental realizing$71.07 per barrel for oil and a 92% surge in natural gas prices to $2.42 per Mcf, these gains have not alleviated market concerns [6]. Competitive Position - Analysts express caution regarding Occidental's performance, noting that the company lags behind industry peers in several areas, including a heavier debt burden, slower production growth, and significant spending on carbon-capture technology, which is capital-intensive [7]. - Occidental remains a focal point in Berkshire Hathaway's equity portfolio, with investors closely monitoring the upcoming earnings report scheduled for May 8 [8].