Oil prices dropped around 20% over the past month, driven down by concerns about oil demand falling due to Chinese government efforts to contain a new Covid eruption and uncertainty created by the EU/US implementation of oil price caps and restrictions on Russian oil exports. Meanwhile two major near-term FPSO projects have been shelved, partially the result of cost growth eroding project economics. While the queue of near term deepwater projects remains very strong, these deferrals are indication that supply base constraints will meter the pace of new orders. The FLNG and FSRU sectors have continued to strengthen as the Russian gas cutoff in Europe disrupts traditional supply patterns and threatens to cause a major gas shortage in 2023/24. Several new FLNG projects have emerged and a floating LNG solution appears to have replaced a planned land LNG plant in Africa. Demand for regas terminals in Europe has vacuumed up all of the available FSRU units and there’s now a lead time of 4 to 5 years to take delivery of a newly-ordered FSRU. All is discussed in WER's November-December floater report. Also in the data section of the report are details for 203 floater projects in the planning stage, 73 production or storage floaters now on order, 311 floating production units currently in service and 22 production floaters available for redeploy contracts. Accompanying excel spreadsheets provide the report data in sortable format. Information is current as of 8 December.