Hi TD, the positive is OPEC + is the driver of the busOPEC + managed to control supply through the toughest period in history...and continue to do so keeping oil prices above $70. There is no data to suggest they won't control the market.
That said BTE is hedged above their plan numbers for 2022 so far and I believe looking at the futures out through April 2022 they could hedge 100% above a $70 average. I don't see anyone screaming right now hedge it all for 2022 lol.
However they could and as a result still be way ahead of he plan through Q3/Q4/Q1 and Q2
All this variant stuff is noise. All the data shows overwhelming those dying are those who made a choice not to get vaccinated. Roll the dice take your chance. Darwin.
As I say follow the data
"Nearly all COVID deaths in US are now among unvaccinated"
"And only about 150 of the more than 18,000 COVID-19 deaths in May were in fully vaccinated people. That translates to about 0.8 per cent, or five deaths per day on average."
Reference: https://www.cbc.ca/news/health/us-covid-19-deaths-unvaccinated-1.6078680