“But overall, I'd say it's probably too early to see much of that come through the second half of the year. But as we're looking forward into 2024, I'd say we fundamentally feel like inflation is going to come off as we're looking forward, because we're starting to see those signs across multiple categories now throughout the business.”

In context

“lly and internationally for the remainder of the year and into 2024, how you're thinking about either inflation or deflation? Kathy Mikells: Yes. I mean, the way that we're thinking about inflation and whether it's oilfield services costs or other costs across the business, I'd say we've gone to a point where we're actually starting to see inflation come off in certain cost categories. If you think about some of the chemicals that we would use in unconventional, things like sand, what we would call tubular goods, which would include piping and valves and those types of things, we're starting to see some deflationary pressure now. As it relates to things where labor is a high component of the cost, I would say, we're not yet necessarily seeing that deflationary pressure coming through yet. But overall, I'd say it's probably too early to see much of that come through the second half of the year. But as we're looking forward into 2024, I'd say we fundamentally feel like inflation is going to come off as we're looking forward, because we're starting to see those signs across multiple categories now throughout the business. Neal Dingmann: Very helpful. Thank you. Operator: We'll go next to Paul Cheng with Scotiabank. Paul Cheng: Thank you. Good morning, guys. Darren Woods: Good morning, Paul. Paul Cheng: Thank you. You [indiscernible] to spend $17 billion in the low carbon business through 2027. Denbury sale acquisition is about 30%. And you're also saying that you're seeing a lot more opportunities. So should we interpret that your $17 billion that number, we'll need to -- will increase perhaps quite substantially? Darren Woods: Yes. Thanks, Paul. I think as you rightly point out, the Denbury acquisition was not part of the $17 billion. And maybe just a little bit of perspective on that, given the we're just starting that business up, as you can imagine, very early and the opportunity set and progressing th”