Occidental Petroleum reports Q3 2026 price gains and Gulf production curtailments
Occidental Petroleum disclosed that its average realized oil price for the third quarter of 2026 rose to $85.91 per barrel worldwide, a roughly 33% increase from the prior year. The company said production in the Gulf of America was temporarily reduced because a third‑party gas pipeline constraint and maintenance limited net sales volumes by about 110 Mboe/d. Hedge‑related oil‑price collar settlements lowered operating cash flow before working capital by $94 million for the quarter. Occidental expects production to recover as the pipeline issue is resolved.
Why it matters
The higher oil price should boost revenue per barrel, but the $94 million cash‑flow hit and reduced volumes may temper near‑term cash generation. Investors will watch the pace of Gulf production restoration to gauge whether the price upside can translate into stronger free cash flow and debt reduction.
Key facts
- 1Average realized oil price worldwide was $85.91 per barrel for Q3 2026. tradingview.com
- 2Average realized WTI price was $85.79 per barrel for Q3 2026. tradingview.com
- 3Net sales volumes in the Gulf of America were reduced by 110 Mboe/d during the quarter. tradingview.com
- 4Crude‑oil collar settlements lowered operating cash flow before working capital by $94 million in the quarter. tradingview.com
- 5Average realized natural‑gas‑liquids price was $24.63 per barrel for Q3 2026. tradingview.com
- 6Average realized natural‑gas price was $1.69 per Mcf for Q3 2026. tradingview.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.