As of Q4'25, Occidental Petroleum (OXY) reported cash and short-term investments at $1.99B USD, marking a decline from the Q1'25 peak of $2.61B USD, while total debt stood at $22.40B USD, reflecting a continued reduction from earlier highs in the period. Over the timeframe from Q1'23 to Q4'25, cash and short-term investments exhibited volatile growth, starting at $1.17B USD and rising overall to $1.99B USD with notable peaks in Q1'25 ($2.61B USD) and Q2'24 ($1.85B USD), though fluctuating downward in recent quarters; in contrast, debt remained relatively stable around $20.7B USD through Q2'24 before spiking to $27.65B USD in Q3'24, then steadily declining to $22.40B USD by Q4'25, suggesting improved leverage amid cash variability. This trend highlights a net positive shift in the cash-to-debt ratio, from approximately 0.06 in Q1'23 to 0.09 in Q4'25, potentially bolstering financial flexibility for the energy sector firm.