Occidental Petroleum Stock Plummets 7.82% in Two Days as Gulf of Mexico Production Falls Short, Trading Volume Ranks 53rd

On July 15, 2025, Occidental Petroleum (OXY) experienced a significant decline, with its stock price dropping by 5.28% over two consecutive days, resulting in a total decrease of 7.82%. The trading volume for the day was 13.06 billion, ranking 53rd in the market.

Occidental Petroleum reported that its oil and gas production in the Gulf of Mexico for the second quarter was lower than initially projected. The company attributed this to production curtailments caused by third-party constraints, extended facility maintenance, and schedule-related delays. As a result, the estimated sales volume for the second quarter in the Gulf of Mexico was 125,000 barrels of oil equivalent per day (boepd), down from the previous guidance of 126,000-134,000 boepd.

Despite the lower production in the Gulf of Mexico, Occidental affirmed that its total company production for the quarter is expected to remain within the guided range. The company has guided for full-year production to average approximately 1.42 million barrels of oil equivalent (boe) for 2025. Additionally, Occidental flagged lower oil realizations, with realizations expected at $63.76 a barrel in the second quarter, down from $71.01 per barrel in the first quarter.