OXY · News · 20260805N

Oil and Gas Price Sensitivity

OCCIDENTAL PETROLEUM CORP /DE/ · 2026-08-05 · Importance 36 · Surprise 40

Benchmark Brent crude prices averaged 19.2% higher in the second quarter because of geopolitical tensions in the Middle East. Occidental's realized crude oil price increased significantly year over year, supporting its highest quarterly profit since 2022. Higher oil prices and increased production were the primary reported drivers of the $2.40 adjusted EPS result. Middle East disruptions also affected Occidental's international output.

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