Ann,
All of the oil exploration companies will make substantial profits this year, and for the foreseeable future whilst oil prices are at their current level.
The oil companies don't set the prices either, that's done by OPEC and the spot markets, so as long as they pump oil out of the ground they are paid 70+ USD per barrel and make substantial profits.
It was only a few years ago when oil was 20 USD per barrel and companies had to reduce workforces and close plants.
Robert
All of the oil exploration companies will make substantial profits this year, and for the foreseeable future whilst oil prices are at their current level.
The oil companies don't set the prices either, that's done by OPEC and the spot markets, so as long as they pump oil out of the ground they are paid 70+ USD per barrel and make substantial profits.
It was only a few years ago when oil was 20 USD per barrel and companies had to reduce workforces and close plants.
Robert
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