OOIL’s 1H23 earnings fell 74% HoH. Earnings are still very good comparing to historical average. RoE was still stayed close to 20% despite of the large sum of idle assets (e.g. cash) on balance sheet. 74% sequential drop in earnings are a touch better than the industry average which is 83% HoH fall. OOIL’s unit costs fell 17% HoH relative to the industry’s average 11% HoH fall.