• Occidental Petroleum average gross margin for 2023 was 62.98%, a 5.29% increase from 2022.
• Occidental Petroleum average gross margin for 2022 was 66.5%, a 16.12% decline from 2021.
• Occidental Petroleum average gross margin for 2021 was 57.27%, a 0.92% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.