We have all seen Speaker Pelosi visiting Taiwan and China responded by announcing military exercises surrounding Taiwan, essentially blocking all shipping lines and before that US also rushed two of its aircraft carriers. All this war is suppose to spike oil right? interestingly I expect this to have opposite reaction. What this means is China is pissed and will work closely with Russia and will ignore western sanctions. India already buying Oil from Russia and as long as China buys Oil from Russia, India to keep China closing in ties with Russia will also continue to buy or in fact increase the purchase. With India and China essentially buying Russian Oil, Russia will have some access to the world Oil/ grain market and will get their supplies from these two countries.
Meaning they can shut Oil and screw Europe, and strangely Oil may not spike. In these scenarios OXY will simply be a cash cow returning cash generated to shareholders via dividend or buyback and not necessarily investing in more wells.
At last WEB may have figured out how to make money on OIL 