Murphy Oil reported their second quarter profits rose 16-percent -- with a total of more than $250 million. However the company sold fewer volumes of crude oil and natural gas... So how did it sell less but make more? We tried to contact Murphy Oil, leaving multiple messages with different people throughout the day, but our calls were never returned. However, the company has told CNN the decrease in sales was offset by the recent high prices. Economist Kathy Deck agrees. "Profits go up when volume decreases only one way and that's by prices being a little bit higher and as we all know oil prices have been very high in the recent history and particularly in the last quarter," she says. Deck also says Murphy Oil made up for the fewer sales in other ways. "Refining spreads, that is the amount that they can charge over what they have to pay for the crude oil, have been very good and so Murphy Oil was able to take advantage of that."
