A couple of thoughts There were some hysterics on some of the oil boards recently that oil was crashing. It hit major support (a gradually rising upslope line) on a 3-year WTI chart and bounced smartly off of it. We have been in a $70ish to $90ish WTI price for the past three years, but the bottom support is steadily going higher. Next year, the absolute floor will very likely be higher.
Beryl is set to become a major hurricane this weekend and move into the Caribbean. Very early for storms this strong on this path. Should it then move into the Gulf,, Canadian oil could be in very high demand in the US. I do not believe any analysts are considering the impact of a bad hurricane season in the Gulf, and what that could do for Canadian oil companies on a short term basis.
Commodity stocks, like oil, should closely match the underlying commodity, one would think, but this isn't always the case in the short term. It is always the case in the long term. Oil is going higher in the long term; Cardinal will get there as long as management is competent. I'm the meanwhile it's a nice monthly dividend.