Occidental Petroleum Stock Surges 38% YTD as Oil Hits $100

Occidental Petroleum Corp (OXY) shares have surged 38% year-to-date in 2026, highlighted by a significant 22% rally in March alone. This bullish momentum is primarily driven by West Texas Intermediate (WTI) crude oil prices spiking 76% to approximately $100 per barrel following geopolitical developments. Furthermore, the company successfully divested its chemical business, OxyChem, to Berkshire Hathaway for $9.7 billion, a move specifically aimed at aggressive debt reduction. While the stock continues to trade at a premium relative to its GF Value of $45.01, the massive asset sale and high energy prices have shifted the fundamental outlook. Analysts are closely watching how the improved balance sheet and elevated oil revenue will impact the company's long-term valuation. Despite previous concerns over weak momentum, the recent capital infusion and commodity tailwinds have revitalized investor interest in the energy giant.