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Before recapping our financial results, let me touch on the market environment underpins them. As I mentioned in my pre-recorded remarks, large annual investments in oil and gas production are required to offset normal depletion even more is required to grow net production. Prior to the pandemic...
A couple of operating questions for me. There is a pretty clear inflection in Upstream U.S. earnings even compared to sort of the last cycle when oil price might have been very strong, but Upstream had a lot of capital employed and there was differentials. Not all that seems to be out ...