The GazettePublished: 8 hours ago
Imperial Oil Ltd., Canada's biggest integrated oil company, said its third-quarter earnings hit a record $1.4 billion, or $1.57 a share, up from $816 million, or 88 cents a share a year earlier, with higher oil prices. That brought nine months' profit to $3.22 billion, or $3.60 a share, up from $2.3 billion, or $2.15 a share a year earlier. The upstream exploration and production unit contributed earnings of $999 million in the latest quarter, with oil prices averaging $114.58 a barrel.
The price of oil was not only UP, but, at one point it hit over $140 per barrel. This is more than likely the shape of things to come in the future? Here again we probably have witnessed the all time low for oil and it will never sink below $60.00 per barrel.
67.59
+1.63
+2.47%
Sure the markets were up yesterday after achieving it's bottom of 8500 this past week, however, so was the price of oil.
9,325.01
+144.32
+1.57%
