A serious oversupply of crude combined with plunging global demand is devastating the U.S. oil patch.
News & Analysis: Occidental Petroleum
The oil patch is quickly running out of room.
Investors were scooping up beaten-down oil industry stocks, and not just due to optimism about Washington's stimulus package.
The oil giant's latest cuts will impact production.
Companies that preserved their payouts through the last downturn have been among the first ones to cut them this time around.
Oil companies in the U.S. are shutting down their growth engines.
The oil giant's acquisition of Anadarko Petroleum continues to haunt it.
Crude oil prices continue to collapse as the global economy shuts down, and a new wave of supply floods the market.
It's a very big number, but it doesn't have the Oracle of Omaha panicked.