---
title: "Occidental Petroleum upgraded at Barclays, which sees boost from higher for longer oil prices"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/287669190.md"
description: "Barclays upgraded Occidental Petroleum (OXY) to Overweight with a $72 price target, citing prolonged cash flow potential due to tight global oil supply and muted U.S. shale growth. The bank expects elevated oil prices to persist for 2-3 years, benefiting oil-focused companies. Barclays highlighted OXY's progress in deleveraging and operational improvements, positioning it for strong shareholder returns. Other top picks include Devon Energy and ConocoPhillips, while Expand Energy was downgraded due to weaker natural gas fundamentals."
datetime: "2026-05-26T18:44:13.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/287669190.md)
  - [en](https://longbridge.com/en/news/287669190.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/287669190.md)
---

# Occidental Petroleum upgraded at Barclays, which sees boost from higher for longer oil prices

Occidental Petroleum (OXY) is upgraded Tuesday to Overweight from Equal Weight with a $72 price target, raised from $59, at Barclays, which believes that tightening global supply conditions and muted U.S. shale growth make oil-focused energy companies poised for a prolonged cash flow boom; shares trade lower alongside a broader decline in crude oil...

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