Lower oil prices are good for the US consumer, Occidental Petroleum Corporation and the oil industry as a whole, company CFO Stephen Chazen, told CNBC Tuesday.
“We’ve always been cautious on oil prices. We’ve always a little bearish,” said Chazen, who will become the oil company’s CEO at the annual meeting next year. He has been CFO at Oxy since 1999. Oxy is the fourth largest oil company in America.