Oil is at $60+ BTW Suncor sells oil 846 K per daySU's current price of <$23 (Toronto) is a ridiculous joke.
In 2020 oil averaged <$40 now almost at $61.
BTW Suncor sells oil.
Rough calculation = 846k x $20 USD ($60 - $40) = 846k x 20 x 1.25 (exchange rate) =
$21,150,000 daily revenue increase over last year.
90 (days in a quarter) x ~$2 billion (CAD) revenue increase for the quarter. THAT IS HUGE!!!!!!
This extra cash will almost completely go to the bottom line as Suncor’s costs don’t go up much
as the oil price increases same as most resource companies.
Oil powers the world we live in – whether you like it or not.