Higher Output Pushes Occidental Petroleum Q2 Profit Above Expectations ...Middle East

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Higher Output Pushes Occidental Petroleum Q2 Profit Above Expectations
source : OILPRICE ( Middle East ) () 38
Occidental Petroleum reported second-quarter profits of $1.03 per share for a total of $1 billion thanks to higher production. The result exceeded analyst expectations by 34%. The company reported oil and gas pretax profits of $1.6 billion for the second quarter of the year, up from $1.2 billion for the first quarter. It also reported an average realized oil price for the quarter of $79.89 per barrel, which was 5% higher than the average realized oil price for the first quarter, contributing to the financial result. Oxy produced 1.258 million barrels…

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