March 25, 2020 / 12:15 PM / 12 days ago

Occidental slashes budget again amid oil price rout

March 25 (Reuters) - Occidental Petroleum Corp on Wednesday slashed its spending forecast for the year, the second cut this month by the debt-laden oil producer amid tumbling crude prices.

The company said it now forecasts full-year capital spending to be in a range of $2.7 billion to $2.9 billion, down from the revised forecast of $3.5 billion and $3.7 billion it had provided on March 10.

Initially, Occidental had slotted a spending budget of up to $5.4 billion for the year. (Reporting by Shariq Khan in Bengaluru, Editing by Sherry Jacob-Phillips)

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