Oil prices drop ahead of OPEC + meeting on report Saudis will make up for any lost Russian supply

Oil prices fell on Thursday ahead of an OPEC + meeting, after a report surfaced that Saudi Arabia was prepared to pump more oil to compensate for any Russian output loss. Price action West Texas Intermediate crude for July delivery CL.1, -2.33% CLN22, -2.33% fell $ 2.20, or 1.9%, to $ 113.07 a barrel. Oil … Read more

Warren Buffett Is Buying Stock Again. What It Means for the Stock Market.

Text size Berkshire Hathaway CEO Warren Buffett has recently made big bets on Chevron and Occidental Petroleum, along with other stocks. Drew Angerer / Getty Images Warren Buffett sat out much of the post-Covid-19 selloff to the detriment of Berkshire Hathaway shareholders. But in the first quarter of 2022 — with stocks once again falling … Read more

Warren Buffett Says Markets Have Become a ‘Gambling Parlor’

OMAHA, Neb. — As recently as February, Warren Buffett lamented he wasn’t finding much out there that was worth buying. That is no longer the case. After a yearslong deal drought, Mr. Buffett’s Berkshire Hathaway Inc. BRK.B -2.55% is opening up the spending spigot again. It forged an $ 11.6 billion deal to buy insurer … Read more

Berkshire Hathaway First Quarter Operating Profits Edged Higher as Buybacks Slowed

Berkshire Hathaway made a big bet on other stocks in the first quarter, and energy was a favorite. Warren Buffett’s company bought $ 51.1 billion worth of equities in the quarter, according to the company’s 10-Q filing. Among the purchases were billions of dollars worth of Chevron (ticker: CVX) and Occidental Petroleum (OXY). Berkshire also … Read more

‘We need to increase oil & gas output immediately,’ Elon Musk says as Ukraine crisis jolts US crude to 2008 high

Elon Musk voiced an unusual stance for an electric-vehicle executive on Friday. Tesla Inc.’s TSLA, -0.12% chief executive said the US needs to immediately increase production of oil and gas in a tweet late Friday, which runs against the grain of the EV maker’s own green-energy business initiatives. “Hate to say it, but we need … Read more

Warren Buffett’s Berkshire Hathaway Buys Big Block of Occidental Petroleum Stock

Text size Warren Buffett, CEO of Berkshire Hathaway, speaks to the press as he arrives at the 2019 annual shareholders meeting in Omaha, Nebraska, May 4, 2019. Johannes Eisele / AFP / Getty Images Berkshire Hathaway has purchased nearly 30 million shares of Occidental Petroleum since the end of 2021, adding to an existing large … Read more