Investors were scooping up beaten-down oil industry stocks, and not just due to optimism about Washington's stimulus package.
News & Analysis: Occidental Petroleum
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.
It is not as bad as 2006-2007 for the airline industry, but they are adopting various measures to maneuver through current conditions.
The COVID-19 outbreak continues to hammer the oil patch.
Oil companies are slashing spending as they quickly adapt to the market's new realities.