Considering reducing oil output...The possibility of a cut of 1M+ barrels of oil per day by OPEC and OPEC+ seems to be having its desired effect on the price of oil... the price is up substantially this morning... almost 5%. There seems to be no doubt that the parties concerned want to see a minimum of $90US as the floor price.
Personally, I think this works well... we really don't need a $100 or $120 oil price... too much pain and suffering for the local joe, with extreme prices for heating fuel, gasoline, etc.
Going forward, SGY and other Canadian oil companies will continue to have hugh FCF at this price. And that means more money in our pocket with a sustainable dividend, share buybacks and possibly a special dividend every now and then.