January 7, 2019 / 10:48 PM / 5 months ago

Occidental Petroleum sees 2019 capex range of $4.4-$5.3 bln

Jan 7 (Reuters) - Oil and gas producer Occidental Petroleum Corp said on Monday it expects its 2019 capital expenditure to range between $4.4 billion and $5.3 billion, based on the price of U.S. crude oil throughout the year.

At $50 per barrel for U.S. West Texas Intermediate crude, Occidental said bit.ly/2FeP6DL it would spend between $4.4 billion and $4.5 billion, while its expenditure would jump to a range of $5 billion to $5.3 billion if WTI approaches $60.

On Monday, WTI crude futures rose 56 cents to settle at $48.52 a barrel, a 1.17 percent gain. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel)

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