July 23, 2026 02:12 PM GMT TotalEnergies SE | Europe Notes from the Conference Call FY operating cash flow scenario raised to ~$35bn. "The $32bn guidance [with oil at $80/bbl and refining margin of $7/bbl], because we know what has been the improvement of the second quarter, would be raised to $34.5bn (…) In a price environment of $90/bbl and refining margin of $15/bbl - the average of the first half - we could deliver around $38bn instead of $35bn." Middle East production constraints. "The [Middle East] pr ...