The Globe and Mail reports in its Friday, March 22, edition that Desjardins Securities analyst Chris MacCulloch says oil producers have been enjoying the benefits of relatively strong commodity prices as they eagerly anticipate the tightening of Western Canadian Select oil differentials, which is expected to happen with the upcoming launch of the Trans Mountain pipeline. The Globe's David Leeder writes that Mr. MacCulloch continues to rate Tourmaline Oil "buy." Mr. MacCulloch shaved his share target by a loonie to $75. Analysts on average target the shares at $76.50. Mr. MacCulloch says in a note: "Going forward, 1Q24 financial reporting is just around the corner, which will likely continue driving incremental support for liquids-weighted producers and further pain in gasland. Either way, we expect industry to continue gradually accelerating capital returns toward 100 per cent of FCF, with a particular emphasis on share buybacks despite the recent expansion of valuation multiples toward historical averages. Otherwise, sector consolidation will remain at the forefront of investor discussions as producers continue seeking opportunities to enhance profitability through operational and financial synergies."