US producers reporting stellar results, but snags seen ahead

The first week of upstream producers’ Q4 conference calls have revealed robust results, with predicted production growth in 2022, but have also highlighted some problems afoot including relatively high inflation, supply chain crunches and concerns of demand destruction from too much oil supply. Operators Hess, Murphy Oil, Chevron, ExxonMobil and ConocoPhillips all expect production increases this year: Hess and ExxonMobil…