Before I continue my report (based on Reuters.com), I would like to tell that ConocoPhillips, is the third-largest U.S. oil company. When oil price is running up, as the producer we know well that ConocoPhillips get this opportunity to take profit. If the price of your goods you produce is running high as external reasons (not your internal reason, such as high salary, high input cost), you will take profit more, right. ConocoPhillips did it on First Quarterly Report.

Reuters said, ‘Oil prices have increased nearly six-fold since 2002 on surging demand from emerging economies, supply concerns and the weak dollar. They were at or near record levels for most of the first quarter and surged to a record of nearly $120 earlier this week.’
Last period, ConocoPhillips booked profit $3.55 billion, or $2.12 a share and current period, ConocoPhillips book $4.14 billion, or $2.62 a share.
Off course, High profit in current quarterly makes ConocoPhillips repair and increase their capital and planning their business in next quarterly. Internal staff said that second quarter will more difficult, because of others competitors in oil and gas company. They will battle with Russian Oil and Gas Company, Lukoil LMOH.MM and Shell.

Beside that, High running on oil price excess in low of demand, but another opinion of mine that while oil price is uncontrolled, and the trend showed that supply didn’t cause running high oil price but weak on dollar. So if Dollar is controlled and those external factors is stabilized, let us make our opinion, prediction and analysis, where the oil price will run? Running high or running low!
Source : Reuters
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