Bloomberg
Cash Flow of World’s Oil Drillers Heads for Record $348 Billion
(Bloomberg) — The world’s publicly traded independent oil producers will make record profits this year, surpassing the levels reached when crude hit an all-time high near $150 a barrel more than a decade ago, according to Rystad Energy.Combined free cash flow from the sector is expected to surge to $348 billion, beating the previous high of $311 billion in 2008, Rystad said. Key to the turnaround is U.S. shale, with the industry expected to reverse years of losses in 2021 and make “super profit
