RE:RE:RE:RE:hard to believe Not sure who runs the country, the radical left woke Liberals or even more extreme anti oil and gas NDP.
Regardless, these posts begun with market manipulation, then switched to ugly Canadian politics. In reality, the same recent poor equity performance is also seen in the U.S. based E&Ps.
Q2 had a great start, WTI rallied topping at about $85 in April and the equities responded accordingly. Canadian stocks, WCP included, also benefited from narrower price discounts to WTI. Unfortunately, oil prices began falling in May and WTI breaking below $75 in the early June. It has recently recovered to about $81 but neither Canadian nor U.S. equities are responding.
The equities market may not believe that oil prices will hold above $80. It may be right, but it has also been wrong in the past. Time will tell.