OXY
Occidental Petroleum Corporation
September 16, 2026 · market open
- Rarity
- 1.60
- Peak move
- −6.52%
- Float cap
- $62.4B
Occidental Petroleum Corporation is an international energy company that produces oil and natural gas, primarily in the United States, the Middle East and North Africa. It holds leading positions in the Permian and DJ Basins and offshore Gulf of America, while its midstream and marketing segment moves and markets hydrocarbons. A subsidiary, Oxy Low Carbon Ventures, develops decarbonization technologies including direct air capture, carbon sequestration and lithium for energy needs.
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What we found
12 events · 0 from SEC or newswire · 0 timed with the moveinsider_saleOccidental CEO Richard A. Jackson purchased 4,770 OXY shares for approximately $250,000 over the past six months.
geopoliticalSaudi Arabia's state oil company halted the East-West pipeline carrying roughly 4% of global daily oil supply and cancelled part of its September crude deliveries to Europe after Houthi attacks damaged the line toward the Red Sea.
commodity_eventUS crude inventories rose 7.1 million barrels in the week to Sept 11, against analyst expectations of a 1.6 million-barrel draw, per American Petroleum Institute data, with gasoline and distillate stocks also higher.
commodity_eventBrent crude settled up $3.07 (2.9%) at $108.75 a barrel and WTI rose $4.44 (4.38%) to $105.83 a barrel on Sept 15, the highest since May 19, after Saudi Arabia's East-West pipeline stayed offline and Yanbu loadings were suspended following attacks; Hormuz vessel traffic fell to four ships, and on Sept 16 Brent fell 1.02% to $107.64 and WTI dropped 1.29% to $104.46 after the American Petroleum Institute reported a 7.1-million-barrel build in U.S. crude inventories for the week ended September 11 versus expectations of a 1.6-million-barrel draw.
commodity_eventBrent crude fell 1.74% and lost the $107/bbl level on Sept 16, with WTI down 1.29% to $104.46, as easing Saudi supply concerns and a bearish US inventory build pressured oil prices.
commodity_eventThe OPEC reference basket rose 5.6% to $123.11 a barrel, its highest since April 7, capping six straight sessions of gains, driven by the preventive closure of Saudi Arabia's East-West pipeline; Brent closed at $105.68 and WTI at $101.39.
geopoliticalHouthi forces launched missiles and drones at Saudi Arabia's Khamis Mushait air base on Sept 15 and Gulf Arab states postponed planned talks with Iran on a Hormuz shipping corridor, after attacks shut Saudi Arabia's East-West pipeline on Sept 11.
- Key event
commodity_eventHouthi attacks in the Red Sea, the closure of Saudi Arabia's East-West crude pipeline after an attack, and ongoing shipping disruption in the Strait of Hormuz simultaneously disrupted multiple Saudi crude export routes, affecting delivery schedules to European customers; OPEC data showed Saudi August crude output fell about 1.9 million bpd month-over-month to 6.24 million bpd, down about 23% from July.
- Key event
analyst_ratingBernstein analysts Neil Beveridge and Brian Ho raised their Brent crude forecast to $120-150 per barrel, calling the market 'structurally undersupplied' and saying their prior 2026 Brent estimate of $90 has been overtaken; they also noted IEA data showing Saudi oil supply fell to a 30-plus-year low in August.
- Key event
commodity_eventIEA data showed Saudi oil supply fell in August to a more than three-decade low amid blockages of the Strait of Hormuz and Red Sea routes, and the agency projected global oil supply this year will fall about 5.7 million bpd, roughly 6%.
analyst_ratingUBS Group raised its price target on Occidental Petroleum to $67.00 from $59.00 while maintaining a neutral rating, implying about 8.5% upside from the then-current price of $61.73.
commodity_eventBrent crude futures rose 3% to $86.05 a barrel and US West Texas Intermediate crude rose 3.1% to $80.62 a barrel as Middle East tensions escalated, lifting the S&P 500 energy index 3.1%.