Oil Capex Growth "Canada’s biggest producers are responding to a rally in crude and natural gas prices by raising expenditure in 2022 to squeeze more barrels out of existing assets."
https://www.reuters.com/article/imperial-oil-outlook/update-2-imperial-oil-expects-higher-2022-capex-as-commodity-prices-recover-idUSL4N2T22WN
Compare to where we were last year.
- Oil is nearly 50% higher,
- Capex Spending Growth Increasing
- Reduced Float through Buyback, insider buys, Niellson.