Occidental Petroleum is a large oil and gas company that operates globally, including significant shale operations in the United States. Like many oil and gas companies, Occidental’s profitability is tied closely to the price of oil. When oil prices are high, Occidental tends to be more profitable; when prices are low, it tends to be less profitable.
However, profitability at lower oil prices also depends on the company’s efficiency, cost structure, debt level, and strategic decisions. For instance, Occidental has had a high debt level in the past due to acquisitions, which could impact its profitability in a low oil price environment.
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