Occidental's quarterly realized oil prices jump amid Iran war disruption

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July 10, 2026 5:08 PM EDT

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid/File Photo

July 10 (Reuters) - Shale ‌producer Occidental ​Petroleum ​said in a filing on Friday its worldwide average realized ‌oil prices rose 38.4% in the second ⁠quarter compared with the previous three months, ‌driven by higher benchmark ‌crude rates amid the Middle East conflict.

The U.S.-Iran war has injected a hefty ​geopolitical risk premium into the energy markets and disrupted supplies through the ⁠Strait of Hormuz, which carries about a fifth of global ​oil flows.

• Benchmark Brent crude saw an average closing price of $96.68 per ​barrel during the April-June ‌quarter, up 23% from the first three months of the ⁠year.

• Occidental's worldwide average realized oil price in the second quarter was $96.78 per barrel, ⁠compared with $69.91 a barrel in the previous three months.

• ​Worldwide realized natural gas prices averaged negative 80 cents per million cubic feet, compared with positive $1.20 ‌per mcf in the previous quarter.

• Worldwide realized natural gas ‌liquids prices rose nearly 30% to $24.64 per ⁠barrel, compared with $18.99 ‌per barrel in ​the previous quarter.

(Reporting by Dharna Bafna in Bengaluru; Editing by Jonathan ‌Ananda)


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