{"id":53769,"date":"2025-09-28T18:38:34","date_gmt":"2025-09-28T22:38:34","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms\/53769\/"},"modified":"2025-09-28T18:38:34","modified_gmt":"2025-09-28T22:38:34","slug":"global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms\/53769\/","title":{"rendered":"Global Markets Shaken by Oil Price Slide, Occidental&#8217;s $10 Billion Divestiture, and Vietnam&#8217;s Gold Reforms"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms\/53769\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms\/53769\/#Energy_Markets_See_Price_Plunge_Amidst_Renewed_Supply\" >Energy Markets See Price Plunge Amidst Renewed Supply<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms\/53769\/#Occidental_Petroleum_Eyes_Major_10_Billion_OxyChem_Sale\" >Occidental Petroleum Eyes Major $10 Billion OxyChem Sale<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms\/53769\/#Vietnam_Moves_to_Reform_Gold_Market_and_Stabilize_Currency\" >Vietnam Moves to Reform Gold Market and Stabilize Currency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms\/53769\/#BYD_Grapples_with_Market_Headwinds_and_Strategic_Shifts\" >BYD Grapples with Market Headwinds and Strategic Shifts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-oil-price-slide-occidentals-10-billion-divestiture-and-vietnams-gold-reforms\/53769\/#New_Zealands_Job_Market_Shows_Modest_Growth\" >New Zealand&#39;s Job Market Shows Modest Growth<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Oil prices<\/strong> experienced a notable decline, with <strong>Brent crude<\/strong> falling to <strong>$69.39<\/strong> and <strong>US crude<\/strong> to <strong>$64.99<\/strong> per barrel, largely driven by the resumption of crude exports from <strong>Iraq Kurdistan<\/strong>.<\/li>\n<li><strong>Occidental Petroleum<\/strong> (<a href=\"\/stock\/OXY\">OXY<\/a>) is reportedly in advanced discussions to divest its <strong>OxyChem<\/strong> unit for at least <strong>$10 billion<\/strong>, marking a significant move to reduce debt.<\/li>\n<li><strong>Vietnam<\/strong> is implementing reforms to its <strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> market<\/strong> to curb speculation and reduce currency volatility, including potential new taxes on gold trading.<\/li>\n<li>Chinese electric vehicle (EV) giant <strong>BYD<\/strong> (<a href=\"\/stock\/BYDDY\">BYDDY<\/a>) faces ongoing challenges, evidenced by a significant drop in its second-quarter profit and a revised 2025 sales target, amidst a broader market slowdown and intensified competition.<\/li>\n<li><strong>New Zealand&#39;s<\/strong> seasonally adjusted filled jobs saw a modest <strong>0.2%<\/strong> month-over-month increase in August 2025.<\/li>\n<\/ul>\n<p>Global financial markets are reacting to a confluence of significant developments, including a sharp drop in oil prices, a major divestiture plan by <strong>Occidental Petroleum<\/strong> (<a href=\"\/stock\/OXY\">OXY<\/a>), and substantial reforms in <strong>Vietnam&#39;s<\/strong> gold market. Meanwhile, Chinese EV powerhouse <strong>BYD<\/strong> (<a href=\"\/stock\/BYDDY\">BYDDY<\/a>) continues to navigate a challenging landscape, and <strong>New Zealand<\/strong> reported modest job growth.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_See_Price_Plunge_Amidst_Renewed_Supply\"><\/span>Energy Markets See Price Plunge Amidst Renewed Supply<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Crude oil futures experienced a notable decline, with <strong>Brent crude<\/strong> falling to <strong>$69.39<\/strong> per barrel and <strong>US West Texas Intermediate (WTI) crude<\/strong> dropping to <strong>$64.99<\/strong> per barrel. This downturn, which saw oil futures drop approximately 1 percent, is primarily attributed to the resumption of crude exports from <strong>Iraq&#39;s Kurdistan region<\/strong>. After a two-year halt, the <strong>Iraq-Turkey pipeline<\/strong> is expected to transport an initial volume of approximately <strong>230,000 barrels per day (bpd)<\/strong>, adding to global supply concerns and contributing to an anticipated market surplus. This resumption of exports followed a breakthrough agreement between Iraq&#39;s federal and Kurdish regional governments and oil companies.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Occidental_Petroleum_Eyes_Major_10_Billion_OxyChem_Sale\"><\/span>Occidental Petroleum Eyes Major $10 Billion OxyChem Sale<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Occidental Petroleum<\/strong> (<a href=\"\/stock\/OXY\">OXY<\/a>) is reportedly in discussions to sell its <strong>OxyChem<\/strong> division, a transaction that could be valued at a minimum of <strong>$10 billion<\/strong>, according to reports from the Financial Times. This potential divestiture would represent <strong>Occidental&#39;s<\/strong> largest to date and aims to further reduce the company&#39;s debt load. An announcement regarding the sale is anticipated in the coming weeks, assuming no last-minute obstacles. <strong>Occidental<\/strong> has been actively offloading assets as part of a broader strategy to manage its financial obligations.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vietnam_Moves_to_Reform_Gold_Market_and_Stabilize_Currency\"><\/span>Vietnam Moves to Reform Gold Market and Stabilize Currency<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Vietnam<\/strong> is taking significant steps to reform its domestic gold market, with plans to loosen state control and introduce a personal income tax on gold trading. These measures are designed to curb speculative activity, enhance market transparency, and reduce the substantial premium of domestic gold prices, which have historically been around <strong>17% higher<\/strong> than global rates. Prime Minister Pham Minh Chinh has instructed the <strong>State Bank of Vietnam (SBV)<\/strong> to find solutions to stabilize the market and may consider establishing a gold exchange. The reforms aim to mitigate currency volatility and narrow the gap between local and international gold prices.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BYD_Grapples_with_Market_Headwinds_and_Strategic_Shifts\"><\/span>BYD Grapples with Market Headwinds and Strategic Shifts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Chinese EV manufacturer <strong>BYD<\/strong> (<a href=\"\/stock\/BYDDY\">BYDDY<\/a>) is facing a challenging period, marked by a significant <strong>29.9% year-over-year drop<\/strong> in its second-quarter net profit and a downward revision of its 2025 sales target from <strong>5.5 million to 4.6 million vehicles<\/strong>. These struggles come amidst intense price wars, slowing growth in the fiercely competitive Chinese EV market, and broader economic pressures. Adding to the headwinds, Warren Buffett&#39;s <strong>Berkshire Hathaway<\/strong> (<a href=\"\/stock\/BRK.A\">BRK.A<\/a>, <a href=\"\/stock\/BRK.B\">BRK.B<\/a>) reportedly completed the divestment of its entire stake in <strong>BYD<\/strong>, a move that sent ripples through the company&#39;s stock. Despite these challenges, <strong>BYD<\/strong> is strategically planning to enter Japan&#39;s mini EV segment in 2026, a move that is already being perceived as a significant threat to established Japanese automakers.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"New_Zealands_Job_Market_Shows_Modest_Growth\"><\/span>New Zealand&#39;s Job Market Shows Modest Growth<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In economic news from <strong>New Zealand<\/strong>, seasonally adjusted filled jobs increased by a modest <strong>0.2%<\/strong> month-over-month in August 2025. This translates to an addition of <strong>4,814 jobs<\/strong>, bringing the total number of filled positions to <strong>2.35 million<\/strong>. The goods-producing industries saw a <strong>0.6%<\/strong> increase in jobs, while service industries grew by <strong>0.1%<\/strong>. This data provides an early indication of changes in the labor market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Oil prices experienced a notable decline, with Brent crude falling to $69.39 and US crude to $64.99 per [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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