Occidental Petroleum (OXY) - Some Oil News + Negative implications if OXY issues new shares

Occidental Petroleum Online Annual meeting:
- URL: http://dpregister.com/10142083
- Date: 29th of May
- Vote right: All shareholder that hold shares in person (not via broker)

Good news for oil companies:
- Trump is preparing funds to bailout oil companies
- Saudi Arabia started to reduce production from 12 to 8.5 MBD
- US still has storage space for ~75 MB (Strategic Petroleum Reserve)

And some bad news:
- Saudi is sending 50 MB to US
- US has around ~3 MBD of oversupply
- The 150M storage in some reserves possibly will be ready in ~June

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