Warren Buffett, the stock god, has once again made a move to his old friend, Western Oil.
On February 5th local time, a document submitted by Buffett's Berkshire Hathaway to the Securities and Exchange Commission (SEC) showed that Berkshire Hathaway had increased its holdings in Western Oil for three consecutive trading days on February 1st, February 2nd, and February 5th, purchasing a total of 4.3 million shares for approximately $245.9 million, with an average price per share of $57.15.
After this increase, Berkshire Hathaway holds approximately 248 million shares of Western Petroleum common stock, valued at approximately $14 billion.
Vicki Hollub, CEO of Western Petroleum, stated on February 5th local time that the oil market will face supply shortages by the end of 2025, citing the global inability to replace current crude oil reserves quickly enough. She predicts that by the end of 2025, the supply and demand prospects of the oil market will reverse.
According to Wind data, as of the close of the US stock market on February 6th local time, Western Oil rose 1.04% to $57.57, with a latest total market value of $50.683 billion. Since 2024, Western oil has experienced a cumulative decline of 3.58%.