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Occidental Petroleum's loss narrows as crude prices rebound

05/10/2021 16:21
Occidental Petroleum's loss narrows as crude prices rebound

- Occidental Petroleum Corp OXY.N posted a smaller first-quarter adjusted loss from the previous three months on Monday, boosted by higher crude prices as COVID-19 vaccine rollouts and easing travel restrictions lifted fuel demand.

The oil and gas producer said adjusted loss attributable to common stockholders stood at $136 million, or 15 cents per share, for the three months ended March 31, compared with a loss of $610 million, or 65 cents per share, in the fourth quarter.


(Reporting by Arunima Kumar in Bengaluru; Editing by Aditya Soni)

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