Why Occidental Petroleum Fell Today
Source: Motley Fool
2026-04-14 15:06:58 ET
Shares of U.S.-based oil producer Occidental Petroleum (NYSE: OXY) were falling on Tuesday, down 4.9% as of 1:00 p.m. EDT.
Occidental is largely a U.S.-based oil and gas producer, with deep, low-cost inventory in the Permian Basin in West Texas, among other U.S. locations. The company also has a fair amount of debt on its balance sheet -- the result of two major acquisitions over the past seven years.
As such, Occidental's stock is highly sensitive to oil prices and was an outsize beneficiary of the Strait of Hormuz closure, since some of its Middle East competitors have been cut off from global markets.
Occidental Petroleum Corporation
NASDAQ: OXY
OXY Trading
-2.9% G/L:
$56.06 Last:
3,825,535 Volume:
$55.45 Open:
