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Occidental Petroleum targets $6.1B free cash flow in 2026 with strong asset base and cost discipline

Market News
21 Apr 2026
Seeking Alpha
View Source
Bullish
pluang ai news

Occidental Petroleum (OXY) remains a strong investment due to its solid operational performance, ongoing debt reduction, and valuable assets in the Permian Basin. The company aims for $6.1 billion in free cash flow by 2026 at baseline oil prices, with additional cash flow gains for every $1 increase in oil prices. Key drivers include disciplined capital spending, cost cuts, and integration of CrownRock assets, supporting double-digit free cash flow yields even under conservative oil price scenarios. Managing Berkshire Hathaway's $10 billion preferred equity and further debt reduction are priorities to enhance shareholder returns.

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