Occidental Petroleum Corp Stock Price Affected by Market Trends

Occidental Petroleum Corp’s stock price has been impacted by the decline in US stock indices. The Dow Industrial Average has remained virtually unchanged.

Market Factors Affecting Occidental Petroleum Corp

The company’s stock price has also been affected by the potential for oil prices to fall below $50 per barrel, as warned by S&P Global. This could be a concern for Occidental, which specializes in exploring for and producing crude oil.

Potential Impact on Occidental Petroleum Corp

However, the company’s focus on its Permian Basin operations may help it continue to benefit from the region’s strong oil production.

Key Statistics

• Occidental Petroleum Corp specializes in exploring for and producing crude oil.
• The company operates in the Permian Basin, a region with strong oil production.