IMO - on one hand they may be being conservative, on the other hand production could be running down faster than expected by the market in many assets. Obviously any 6% miss or whatever to production leads to an even higher miss on earnings. I think the market is looking at it very optimistically today. An earlier turnaround on Pluto is also a possible sign of earlier depletion than expected, since no non production related reasons were given.
News: WDS Australia's Woodside Energy bumps up output view for fiscal 2023, page-32
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