Big Oil’s Cash Restraint Begins To Cause Worry

These past two weeks saw yet another strong quarterly showing for Big Oil despite substantial declines in earnings, following the trajectory of oil pieces since last year. Once again, the supermajors and the large independents were betting on shareholder returns over production growth, sticking to their new, post-pandemic, mid-transition approach.  Until now, this approach has been largely praised by the media and analysts. Now, it seems the restraint has started to brew some concern. And maybe it’s time it did. Bloomberg’s Kevin…