Oxy Q2 Net Income Jumps 11-Fold Y-O-Y on Crude Price Surge


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Occidental Petroleum's net income jumped 11-fold 
year-on-year to $3.175 billion in the second quarter of 2026, driven by a surge 
in realized crude prices, the company reported.

Net income in Q2 2025 was $288 million, financial results released on Wednesday 
(8/5) showed. In Q1 2026, it was $3.175 billion.Average worldwide realized 
crude oil prices rose to $96.78 bbl for Q2 2026, up from $69.91 bbl in the 
previous quarter and $63.76 bbl a year ago.Domestic realized gas prices slumped 
to negative $1.48 per thousand cubic feet (Mcf), down from $1.01 Mcf in the 
first quarter.Midstream and marketing reported pre-tax income of $1.338 billion 
versus a pre-tax loss of $87 million in the prior quarter.Total global 
production averaged 1.433 million bpd, exceeding guidance as Permian output 
averaged 804,000 bpd.    




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