Quote Originally Posted by nztx View Post
Good points JB .. sentiment for the O&G sector seems fairly awful as you point out
Yes there is always MICRO and MACRO factors at play ...so many blame companies for their SP not catching a BID while forgetting to look across the whole MACRO issues

Demand for O&G will only increase from here as the world moves on from COVID with far more HUMANs that pre COVID .... today another 154,400 humans added to the planet..
So much easy money floating about ... so many constraints on freight ...when it all gets flowing again personal I think Oil will surge north of $100bbl USD during 2022 ...

Bloomberg says that big oil majors are not investing it into future production.

Here’s a snippet…
‘Chevron is perhaps the best example of a company turning away from the punch bowl.
‘The California-based oil giant generated the most free cash flow in its 142-year history during the third quarter but intends to keep capital spending 20 per cent below pre-Covid levels next year while increasing share buybacks.
‘Its 2022 capital budget will come in at the low end of its $US15 billion to $US17 billion range, according to chief financial officer Pierre Breber, some 60 per cent below 2014 levels.’...


And present Big Oil's free cash flow combined are seen higher than during $100 crude in 2014 some 30 billion USD !!!!