Hints and tips:
...Goldman Sachs forecasts a demand leap this year of 2.7mn b/d, pushing oil prices back above $100 a barrel....
...That is still well below the record high of around 13mn b/d struck in 2019 before the pandemic....
...“It’s a tsunami of cash,” said Raoul LeBlanc, head of S&P’s North American oil and gas division. “The companies have almost finished the balance sheet repair.”...
...“There’s a big people problem,” said Raoul LeBlanc, senior analyst at IHS Markit and former director of strategic planning at Anadarko Petroleum....
...d in late 2019 to about 11.1m b/d by the end of 2020....
...“There’s a general sense that they’re winning by letting the price go up and bail them out,” said LeBlanc....
...Production plunged and remains around 11m b/d now....
...US oil production is likely to fall by 200,000-300,000 b/d as a result, he believes, remaining around 11m b/d — well below the record highs set before last year’s crash....
...At $65/b or more, which some analysts expect by the summer, the sector will generate huge free cash flow and add more than 1.5m b/d. The problem with that scenario?...
...Michel Leblanc, chief executive of the Chamber of Commerce of Metropolitan Montreal, said he was not hearing criticisms from local businesses of the government’s approach....
...But the 15-year-old heroine Dounia (Oulaya Amamra) would see herself more as a B-movie idol — a Scarface of the banlieues....
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