Occidental Petroleum plans to reduce production in 2024, cutting two Permian Basin plants (NYSE:OXY)

Oil pump on a sunset background.  Global oil industry

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Western Oil (NYSE:OSSI) +0.2% post-market Wednesday after posting better-than-expected fourth-quarter adjusted earnings and revenue and saying it will reduce spending on U.S. shale operations in an effort to improve cash flow to repay debt.

Fourth quarter production increased by approximately 7,000 boe/d

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