The Globe and Mail reports in its Friday, Oct. 13, edition that National Bank analysts Travis Wood and Dan Payne are of a mind that Canadian energy companies are in a good spot to benefit from future strength in Western Canadian Select oil, predicting it could become "a dominant global heavy benchmark." The Globe's David Leeder writes that the National Bank analysts, with their commodity price forecast adjustments, raised their total cash flow estimates for companies in their coverage universe by 4 per cent in 2023 and 14 per cent in 2024. They raised their share target for Kelt Exploration, which they rate "outperform," by 75 cents to $9.25. Analysts on average target the shares at $8.79. Mr. Wood and Mr. Payne say in a note: "We no longer see WCS as the marginal global heavy barrel. Although the U.S. refining complex will remain the primary consumer of Canadian oil, we think an operational TMX pipeline positions WCS as a global benchmark." The Globe reported on Feb. 4, 2022, and June 17, 2022, that Mr. Wood and Mr. Payne rated Kelt "outperform." The shares could then be had for $5.88 and $6.42. The two analysts noted in the June item that "energy has historically outperformed during inflationary periods."