May 7 (Reuters) - Occidental Petroleum ( OXY ) beat

estimates for first-quarter profit on Tuesday as the oil-and-gas

firm benefited from higher oil prices.

Crude oil prices in the quarter mirrored prices from the

previous year as production cuts by OPEC+ countries offset lower

demand, helping oil producers such as Occidental.

The company said quarterly average prices for oil were

up at $76.04 per barrel, compared with $74.22 per barrel from a

year earlier.

It reported an adjusted profit of 63 cents per share for the

quarter ended March 31, compared with analysts' average estimate

of 60 cents per share, according to LSEG data.