OPEC sees surplus - Remember Q4 last year?Yes they said the same this in Q4 last year. Surplus talk gives them flexibility to cut.
Saudi budget based on $85 oil so great for Baytex if that is where they defend.
Not including gas impact that is $800-900 million in free cash flow for 2023
"OPEC+ SEES OIL MARKET SURPLUS RISING FROM 0.6 MLN BPD IN OCT TO 1.4 MLN BPD IN NOV - REPORT"