As long as oil prices drift lower Occidental shares will be ‘deadweight’, says TheStreet’s Jim Cramer. Occidental Petroleum reported in-line earnings but a revenue miss for the second quarter of 2016. The Houston-based oil and natural gas producer reported a loss of $0.18 a diluted share, which met analysts’ expectations. Revenue declined to $2.56 billion from $3.51 billion in the 2015 second quarter and missed analysts’ estimates of $2.66 billion. Total average daily production volumes fell to 653,000 barrels of oil equivalent a day from 658,000 a year ago.
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