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Occidental Petroleum Surges to Top 124 in Trading Volume with $601 Million Day

Market BriefMonday, May 5, 2025 8:37 pm ET

1min read

On May 5, 2025, occidental petroleum (OXY) saw a significant increase in trading volume, reaching $601 million, marking a 40.34% rise from the previous day. This surge placed occidental among the top 124 stocks by trading volume for the day. However, the stock price of Occidental Petroleum (OXY) experienced a decline of 4.43%.

Occidental Petroleum has been actively involved in the development of carbon capture and storage (CCS) technologies. The company's efforts in this area have been recognized by the U.S. Department of Energy, which awarded Occidental a grant to support its CCS projects. This grant is part of a broader initiative to reduce carbon emissions and promote sustainable energy practices.

Occidental Petroleum has also been expanding its operations in the Permian Basin, one of the most prolific oil and gas regions in the United States. The company has been acquiring new leases and drilling additional wells to increase its production capacity. This expansion is expected to enhance Occidental's market position and contribute to its long-term growth.

In addition to its operational expansions, Occidental Petroleum has been focusing on enhancing its financial performance. The company has implemented cost-cutting measures and improved its operational efficiency, which has resulted in higher profitability. These efforts have been well-received by investors, who have shown confidence in Occidental's ability to navigate the challenges of the energy market.

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