Occidental Petroleum stock gains as oil prices rise and antitrust case proceeds

Occidental Petroleum stock (ISIN US6745991058) is trading in the low 60 dollar range, with recent data from September 1, 2026 showing a price of 60.93 USD and a year-to-date gain of 48.1 percent for the New York-listed shares, according to market data compiled by MarketBeat as of that date.

Oil price tailwind and legal overhang

The broader backdrop for Occidental Petroleum has turned more supportive, as WTI crude futures closed at 91.283 USD on September 2, 2026, up 4.99 percent over the previous session and extending a two-day rally after reports of a US attack on Iranian targets, according to a market overview by OANDA.

At the same time, Occidental Petroleum is among several major shale oil producers named in an antitrust case that a US judge has allowed to proceed, with the ruling dated September 1, 2026 highlighting that plaintiffs may pursue claims of alleged collusion in oil production and pricing while the defendants, including Occidental, deny wrongdoing, as reported by Reuters.

Recent stock performance and sector context

Sector sentiment has supported Occidental Petroleum stock, with MarketBeat data indicating that the share price stood at 60.93 USD as of late trading on September 1, 2026, compared with 41.15 USD at the beginning of 2026, implying an increase of 48.1 percent year to date for investors holding the stock over that period.

Additional trading color from Schwab Network shows that Occidental Petroleum shares were among notable premarket gainers on September 1, 2026, rising about 1.33 percent at around 8:00 AM Eastern Time in a session where energy stocks benefited from firm oil prices and elevated bond yields, underscoring the market's sensitivity to macro drivers for the company.

Operations, quarterly figures and oil exposure

In its most recent quarterly commentary for the second quarter of 2026, Occidental Petroleum emphasized that it had fully offset disruptions to production in the Middle East through higher volumes from the Permian Basin and Gulf of Mexico operations, according to a summary of comments by chief executive Richard Jackson cited in a sector article on September 1, 2026 that discussed the performance of major oil stocks.

For investors, the key takeaway from this operational update is that Occidental Petroleum's earnings and cash flow remain closely tied to oil prices, and the company has shown the ability to reallocate volumes geographically when regional disruptions occur, which becomes particularly important when WTI futures move from levels below 90 USD per barrel to over 91 USD as seen on September 2, 2026, strengthening the cash generation outlook.

Representative product and business focus

Occidental Petroleum focuses primarily on crude oil and natural gas production, with a significant presence in the Permian Basin, the US Gulf of Mexico and other international assets, and complements this upstream portfolio with midstream and chemical operations that help diversify revenue streams linked to energy and industrial demand.

Stock price and investor perspective

As of September 1, 2026, Occidental Petroleum stock closed at 60.93 USD on the New York Stock Exchange, according to MarketBeat data, placing the shares well above their level of 41.15 USD at the start of 2026 and reflecting a 48.1 percent year-to-date gain that aligns with support from higher oil prices and ongoing investor interest in energy producers.