GREY:LSTMF - Post by User
Post by
whitehorn1on Aug 15, 2015 5:39pm
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Post# 24021871
Are any oil companies making money?
Are any oil companies making money?I looked at about 20 Canadian oil companies last quarterly financials, and none made money. I'm curious if anyone is making money at 40 dollars? I am also curious if companies in other countries are making money and what percentage? If Canada produces roughly 4 million out of the world supply of 92 million bopd, perhaps there is a certain percentage bopd that is currently produced at profit. It would be of interest. Basically, if high percentage companies are in the red then supply destruction will have to create a shortage. The lower the oil price persists should start to see a change despite Moody's 3 year prediction of low oil prices.