Oil Price is Ugly. Oil is ugly today but the smart money realizes this is short term. COS can withstand this ugly, ugly short term oil price. At $40 US per barrel price and .70 dollar =$57 CAD cash positive for COS.
Still, influential U.S. bank Goldman Sachs on Friday maintained its $40 price forecast for U.S. crude for the first half of 2016.
"The key theme for 2016 will be real fundamental adjustments that can rebalance markets to create the birth of a new bull market, which we still see happening in late 2016," Goldman said in a report.