11:57:36 EDT Thu 02 Apr 2026
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Exxon Mobil CDR (CAD Hedged)
Symbol XOM
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Close 2026-04-01 C$ 29.13
Market Cap C$ 62,629,500
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Globe/wire say Occidental, others see OPEC output drop

2026-04-02 09:34 ET - In the News

See In the News (C-OXY) Occidental Petroleum CDR (CAD Hedged)

The Globe and Mail reports from its Thursday edition that OPEC oil output fell in March to its lowest level since June, 2020, as the U.S.-Israeli war against Iran effectively closed the Strait of Hormuz and led to export cuts, a Reuters survey found. A Reuters dispatch to The Globe reports that OPEC's crude output in March fell by 7.3 million barrels a day month-on-month to 21.57 million barrels a day, the survey showed, led by cuts in Kuwait, Iraq, Saudi Arabia and the United Arab Emirates. OPEC and its allies had agreed to hold production steady in the first quarter of 2026 and to resume increasing supplies in April. OPEC and allies are due to meet on April 5. Energy Aspects's analysts forecast in a March 16 report that this month's OPEC crude production would fall by seven million b/d to 22.2 million b/d because of the shipping disruptions. Iraq experienced the group's biggest drop in production. Saudi Arabia and the United Arab Emirates made smaller reductions as they both have export routes bypassing the Strait of Hormuz. Only two OPEC nations -- Venezuela and Nigeria -- raised output during the month, the survey found. March production could yet be revised lower for some nations affected by the Hormuz closure.

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