US independent giant Occidental Petroleum sank to a loss of around $15.7 billion for the full year of 2020 but managed to keep production high.The Houston-based player posted a net loss of $15.68 billion for the year, against a loss of $985 million in 2019.For the fourth quarter of last year, the loss was $1.31 billion, similar to the loss of $1.34 billion in the final period of 2019 and an improvement on the loss of $3.78 billion in the third quarter last year.The average realised oil price for 2020 was $37.41 per barrel, well down on the $56.32 per barrel in the previous year, as the coronavirus pandemic hammered global demand and commodity prices.The average oil price in the fourth quarter of 2020 was $40.77 per barrel, down from $56.72 per barrel one year prior.
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