August 8, 2018 / 8:41 PM / 2 months ago

Occidental Petroleum Q2 profit jumps 67 percent on rising oil price

HOUSTON, Aug 8 (Reuters) - U.S. oil producer Occidental Petroleum Corp said on Wednesday its quarterly profit jumped 67 percent largely due to rising crude prices.

The company posted net income of $848 million, or $1.10 per share, compared to $507 million, or 66 cents per share, in the year-ago period. Production fell 6 percent to 639,000 barrels of oil equivalent per day. (Reporting by Ernest Scheyder Editing by Alistair Bell)

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