Morgan Stanley Is Bullish On European Oil Stocks

High oil and gas prices will generate levels of cash flows for the biggest oil and gas companies in Europe, which will also be able to reduce debts and increase shareholder returns, Morgan Stanley says. The five biggest European oil majors could generate a combined $66 billion in free cash flows in 2022, according to a note from the analysts, cited by Sharecast News. “With compelling valuations, and rising bond yields driving value rotation, we reiterate our 'Attractive' stance,” Morgan Stanley’s analysts wrote in the note. The…