Occidental Petroleum Surges to 215th in Trading Volume with $422 Million Day

On June 9, 2025, Occidental Petroleum (OXY) saw a significant increase in trading volume, reaching $422 million, marking a 44.81% rise from the previous day. This surge placed OXY at the 215th position in terms of trading volume for the day. The stock price of OXY also rose by 1.65%, marking the second consecutive day of gains, with a total increase of 3.40% over the past two days.

Lower crude oil prices are expected to prompt U.S. drillers, including Occidental Petroleum, to reduce production and implement cost-cutting measures. This adjustment is likely to impact the company's operational strategies and financial performance.

In 2025, the Permian Basin is projected to contribute approximately 55% of Occidental's total output. This region's significance to the company's production highlights the importance of its operations in the Permian Basin for overall output and revenue.

Barclays has raised its target price for Occidental Petroleum from $46.00 to $48.00, maintaining an "equal weight" rating. This adjustment reflects the firm's updated outlook on the company's future performance and potential.

Occidental Petroleum's financial performance and stock price are heavily influenced by the volatile prices of oil and natural gas. This dependency on commodity prices underscores the need for the company to manage its operations and financial strategies effectively in response to market fluctuations.

Occidental Petroleum has been actively involved in low-carbon technology investments, reducing its debt by $6.8 billion. This strategic move aims to position the company for long-term growth amidst declining energy prices and evolving market conditions.

Occidental Petroleum and ADNOC's XRG have signed a framework agreement to explore a potential joint venture for developing a direct air capture facility in South Texas. This collaboration aligns with Occidental's efforts to capture the growing market opportunity in low-carbon technologies.