Much of this downturn has been driven purely by sentiment, so even once the supply/demand numbers start to balance again the industry will need cheerleaders like this to help sway opinion. As much as the media will try to convince us that this is just basic economics asserting itself, it's not. The market is 70% psychology and 30% fundamentals.
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No clear path to profitability at $60 a barrel at the time of the company split. The company has sold quite a few assets and tapped into credit facilities with the fall of oil prices. Unclear as to the path forward for profitability. The price of oil may go back up to $70 a barrel but the decrease in assets and increase in debt is a new factor. The banks are in charge at this point.
185280 you f### off...your the troll! Dumb ass with the little man syndrome
At the current oil price, COP will go bankrupt in less than two years, ... especially if it continues to be run by the same IDIOTS...
Lol. Technology? That is some funny shit. Tell that to the Saudis and the Russians and soon the Iranians.... They are and will continue to flood the market until there are fewer and fewer producers. Technology my ass. Yes technology is good but at the end of the day trinkets can't save you from having 45 dollar oil for more than a year. We have been at 45 dollar oil for 4 months going on 5 what do you think the environment will look like in May or June. We will be 3 quarters out in the future where operators will be in very bad shape.
Commodity prices rise and fall with supply and demand. Oil supply continues to exceed demand. Yes the price of oil will increase at the point demand exceeds supply but at this point and time and for the foreseeable future supply will continue to exceed demand. Additionally supply will increase in the immediate future as Iran, Mexico and other countries increase production. The known reserves for ConocoPhillips, the largest independent E&P in the world are 9 billion barrles but the known reserves for Iran are 150 billion barrels. ConocoPhillips has the potential to compete based on technology but not on oil reserves. The economic climate favors with E&P producer focused on the technology to produce and not focus on the production.
F*** off troll!!!! How many places have you posted this BS?