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Occidental Petroleum Corporation (OXY) is an international oil and gas exploration and production company that has operations in the United States, the Middle East and Latin America. The company’s Oil and Gas segment explores, develops and produces oil and condensate natural gas liquids and natural gas.
After hitting historic lows in April 2020, the oil and gas industry has recovered significantly, primarily on the back of voluntary production cuts by OPEC+ countries. While the alliance has decided to gradually curb production cuts beginning this month, rising demand for crude oil on the reopening of the economies worldwide should keep oil prices at around their current levels in the coming months.
