FYI Heads up. All canadian oil companies will be hammered as we are all selling oil at $70 per barrel. That is barely break even. Heavy oils will be negative net.
The few that know are exiting the oil stocks. Its happening now.
Canadian crude has been backing up in the U.S. trading hub
at Cushing, Oklahoma, along with oil produced in North Dakota,
forcing down prices. Western Canada Select oil, a Canadian
benchmark, has sold for about $42 a barrel less than world
prices this year, a record gap, according to data compiled by
Bloomberg. The differential is more than four times greater than
the same period two years earlier.