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Occidental Petroleum tops Q4 estimates on top, bottom lines - Yahoo Finance

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Occidental Petroleum tops Q4 estimates on top, bottom lines

Occidental Petroleum ( OXY) reports better-than-expected fourth-quarter results, beating analyst estimates on both revenue and earnings estimates. The oil producer posted revenue of $7.17 billion, surpassing forecasts of $6.84 billion. Adjusted earnings per share came in at $0.74, also exceeding projections of $0.67.

Yahoo Finance breaks down the details of the report.

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Editor's note: This article was written by Angel Smith

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Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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