
Warren Buffett Bets Big on Oil: Is It Time to Follow Suit?
Warren Buffett’s Berkshire Hathaway increased its stake in Occidental Petroleum, now owning 28.3% of the company. Berkshire purchased 763,017 additional shares for $35.7 million amid challenging conditions for Occidental, whose stock has declined by nearly 32% from last year’s peak. Buffett’s strategy