Goldman Bullish on Conoco, Chevron, Suncor for 2018

Goldman likes Conoco Phillips (NYSE:COP) for 2018 for the free cash flow. Goldman just upgraded COP from 'neutral' to 'attractive'. Overall, Goldman is looking at cumulative free cash flow for North American oil majors, and see a bigger upcycle for 2018-2022 than 2009-2013, even though we're looking at around $57 per barrel for Brent in this cycle, compared to $95 in the last one. Not sure I'm buying ... 

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Chevron also generated free cash flow in the first nine months of this year ... so I see the trend here. 

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Definitely like Chevron better--great balance sheet and low debt. 

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