OXY Stock Falls on Oil Dip After US-Iran Deal — Still Up 31% in 2026

Quick overview

Occidental Petroleum company stock failed to stop its previous days negative performance and is showing losses on the day. Despite this, this stock has performed well this year, as it has gained almost 31 percent since the beginning of the year, which is better than many other stocks.

But recently, the stock has declined because news of a US-Iran peace deal pushed oil prices down, which negatively affected energy companies like OXY. As a result, some investors have sold their shares.

However, the companys strong earnings, debt reduction, and support from major investor Warren Buffett have helped this stock to limit its deeper losses.

About Occidental Petroleum Company Work

Occidental Petroleum is a large American oil and gas company that searches for oil and natural gas around the world, extracts it from the ground, and sells it. It is also working on carbon capture and clean energy projects so that the environment can be improved over time. Moreover, the companys head office is in Houston, and its biggest operations are in the Permian Basin in the United States, where a very large amount of oil is produced.

OXY Strong Earnings and Growth

However, the companys growth is also proven by its strong earnings report for the first three months of 2026, in which it is seen that OXY delivered a very good performance and earned more profit than expected. For instance, its adjusted earnings per share were $1.06, which was better than market expectations. Meanwhile, an average of 1.426 million barrels of oil and gas were produced daily, which is huge and good for the company growth. On the other hand, the company also sold some of its old assets and reduced its debt, which is another positive thing. Now the debt of this company is only 13.3 billion dollars. All of this shows that the company has strengthened its financials and is managing its business very well.

New CEO and Company Change

In addition to all these things, another big and important change happened in this company on June 1, and that change was that the former CEO Vicki Hollub retired, who had provided very long and beneficial leadership for the company. Now in her place, Richard Jackson has become the new CEO, who was previously the company’s Chief Operating Officer (COO), meaning he handled daily operations.

Because of this, he has very good experience of internal company matters. Vicki Hollub will now remain on the company’s board so that she can give her experience and advice to the new leadership. This change has been made for a smooth and better future for the company.

OXY Clean Energy Future Work

On the other hand, OXY is also working on clean energy to improve the future, as we also mentioned above. The company is building a large plant called STRATOS which will remove carbon dioxide from the air and keep the environment clean. In addition to this, work is also ongoing on solar power and other modern clean technologies with different partners.

Analysts like this stock because its business is strong, but in the short term oil prices can change quickly which can affect the stock.

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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