Transocean Ltd. (RIG)

[Mother Lode]

"Demand’s coming back around the world, people are flying more, and China’s going to come back,” Sheffield said.

He also cited a “miniscule” planned production increase announced by OPEC-Plus on Wednesday, reflecting the cartel’s lack of spare production capacity.

“They just don’t have the supply,” Sheffield said.

Amid the bullish outlook, Pioneer would continue to target production growth of no more than 5% annually, Sheffield said.

Regarding the Inflation Reduction Act unveiled last week by Senate Democrats, Pioneer management does not expect material impacts from the proposed methane fee or increase in the minimum corporate tax rate.

This is because of the company’s ongoing and planned efforts to curb methane emissions intensity, COO Richard Dealy said."

https://www.naturalgasintel.com/pioneers-sheffield-sees-more-upside-than-downside-for-oil-prices/