Shale producer Occidental Petroleum beats quarterly profit estimates
05/08/2026 21:16
Shale producer Occidental Petroleum beats quarterly profit estimates Aug 5 (Reuters) - U.S. shale producer Occidental Petroleum OXY.N reported its highest quarterly profit since 2022, surpassing Wall Street expectations on Wednesday, helped by higher oil prices and production.
The Houston, Texas-based company posted an adjusted profit of $2.40 per share for the three months ended June 30, compared with expectations of $1.84 per share, according to data compiled by LSEG.
(Reporting by Vallari Srivastava in Bengaluru; Editing by Sriraj Kalluvila)