“They were making money at $40 / barrel.”
Some fracking wells need 50 or more. Some offshore rigs need 60 or more. You can’t expect them to eat billions when prices are lower and they are losing money, but not keep profits when higher.
I appreciate the reply but NOBODY’S Eating billions when the price 8s low. They have always made money . Just seems they are making more now because the futures are higher do to lack of product, thanks to fjb stopping the pipeline in ND.