US-based Occidental Petroleum has cut its first-quarter production guidance by 4% following political unrest in the Mideast and North Africa, severe weather in the US and higher oil prices. Oxy finance chief Steve Chazen told the Howard Weil Energy Conference in New Orleans Tuesday that he now anticipates first-quarter production to average 711,000-721,000 boe/d. Oxy had previously provided guidance of 740,000-750,000 boe/d.
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