RE:RE:Price of oil if OPEC didn't existGood post by Miran and Shambano1. I agree and since COS is a one trick Pony that needs higher oil price to go up while other companies such as Suncor can still make money and grow production in a more stable oil price environment.
Being over leveraged to oil price works in a perfect environment like the period leading to 2008 where higher priced could mask any operating problems.