Warren Buffett-backed Occidental Petroleum reported better-than-expected third-quarter earnings late Tuesday, with the Permian Basin oil producer announcing it has paid off 90% of its short-term debt reduction target as it continues scouring its balance sheet. Occidental Petroleum saw Q3 earnings of $1.00 per share, down 7% compared to $1.08 a year ago, while revenue totaled $7.17 billion, running flat compared to Q3 2023. The company added Tuesday that it repaid $4 billion of debt, achieving about 90% of its short-term debt reduction target.