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Occidental (OXY) CEO says 90-95% of growth will come from US assets, mainly the Permian

Occidental's CEO indicating that a significant 90-95% of growth will be driven by U.S.

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EUROPEAN CLOSES: Euro Stoxx 50 +1.42% at 5,579, Dax 40 +0.96% at 22,595, FTSE 100 -0.15% at 9,903, CAC 40 +0.79% at 7,726, FTSE MIB +0.91% at 43,230, IBEX 35 +1.04% at 16,888, PSI +0.25% at 8,779, SMI +0.61% at 12,411, AEX +0.53% at 967

Occidental (OXY) CEO says 90-95% of growth will come from US assets, mainly the Permian

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Context

assets, primarily in the Permian Basin, suggests a focused strategy on domestic expansion. This reinforces the company's commitment to capitalizing on U.S. shale production, which could positively impact revenue and profit margins, particularly in the current energy market dynamics. Traders should watch for potential market reactions regarding OXY's outlook and how this aligns with trends in U.S. energy production.

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