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Oil Industry is heavily damaged by the price war between Saudi Arabia and Russia. WTI Crude oil is down below $30 and the price war is expected to carry on for a long time. Most Oil stocks were down almost half from its 52-week high. But one stock seems to be specially attractive for famous investor.

In 2019, Occidental Petroleum already supported by Warren Buffett in form of $10 billion 8% preferred stock and 2% common stock. During recent market downturn, Activist investor Carl Icahn also boosted his stake in Occidental Petroleum up to 10%.

It seems Occidental Petroleum was undervalued by those famous investors. In 2019, the financial package offered to Berkshire Hathaway including a warrant to purchase up to 80 million shares of Occidental at an exercise price of $62.50 a share. This exercise price may view as the fair value of Occidental Petroleum under 2019 oil price level. If Occidental Petroleum resume to its fair value, it may generate a huge return.

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