
Occidental Petroleum (OXY) just raised its quarterly dividend by 9% to $0.24 per share last week. This comes at a tough time for oil companies, with Brent crude (QAK25) sitting near $72 per barrel and WTI (CLJ25) near $68.
President Donald Trump’s new tariffs could complicate oil supply and demand. With tariffs on Canada and Mexico set to go into effect on March 4, oil companies like Occidental have reason to be concerned about their supply chains. Plus, the EIA thinks Brent crude will average $74 per barrel in 2025 before falling to $66 in 2026, which spell tough times for oil producers.