Changes in US stocks | Occidental Petroleum (OXY.US) rose 6%, Q2 profit hit a four-year high

The Zhitong Finance App learned that Occidental Petroleum (OXY.US) rose 6% to $57.04 on Thursday. According to financial reports, Occidental Petroleum's Q2 revenue reached US$8.32 billion, up 57.0% year on year, exceeding expectations of US$1.07 billion; adjusted earnings per share were US$2.40, exceeding expectations of US$0.55, the highest profit since 2022.

For the current quarter, the company expects production to be 1.4 million to 1.44 million barrels of oil equivalent per day, of which production in the Permian Basin is expected to average between 795,000 and 815,000 barrels of oil equivalent per day. Occidental Petroleum also narrowed its annual production outlook to 1.42 million to 1.45 million barrels of oil equivalent per day, and its international production is expected to be between 220,000 and 224,000 barrels of oil equivalent per day. Earlier this year, the company lowered its production outlook, citing the impact of the war in Iran on its operations.

The company currently expects capital expenditure of $5.5 billion to $5.9 billion in 2026, compared with previous forecasts of $6.3 billion to $6.7 billion.