CVE Cenovus Energy
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Cenovus Energy News
4 Energy Companies That Recently Pumped Up Their Dividends
Oil Declines With OPEC Forecast Unchanged, as Traders Weigh the Interest-rate Outlook
Oil futures moved lower on Tuesday, giving back part of the gains seen a day earlier, as the Organization of the Petroleum Exporting Countries left its monthly forecasts largely unchanged and traders weighed the outlook for interest rates, and their potential impact on energy demand.
OPEC Sticks to Oil-Demand View, Posts Fall in Overall Output
The Organization of the Petroleum Exporting Countries left its estimates for global oil-demand growth unchanged for this year and next, while reporting a fall in crude output as the market awaits the cartel's next production policy move at its upcoming meeting in June.
Oil market alert! Demand for diesel is weak, and refineries cut production
The profit from diesel production at Asian refineries is close to the lowest level in a year. This has prompted refineries to reduce the amount of crude oil they process.
Oil Steadies as Traders Look to OPEC Report and Inflation Data
Oil held a gain before the release of an OPEC market outlook, with traders looking for signs on whether supply curbs will be extended, as well as US inflation data that will shape expectations for monetary policy.
Shale oil giants are accused of manipulating oil prices! The US energy industry faces a series of class-action lawsuits
① The US shale oil industry is currently facing a series of lawsuits, accusing some of the biggest companies in the industry of colluding to limit production and maliciously raising oil prices; ② According to reports, companies such as ExxonMobil, Occidental Petroleum, and Diamondback Energy have been named in at least 10 class action lawsuits.
Wildfire Evacuation Alert in Place for Major Canadian Oil Sands Town Fort McMurray
Iraq wants to expand crude oil reserves to 160 billion barrels and opposes continuing OPEC+ production cuts
① Beginning on Saturday, Iraq will hold its first oil and gas exploration project auction since 2018, with companies from China, Iraq, Arabia and Europe competing; ② Iraq hopes to drastically increase crude oil reserves and reduce its dependence on imported natural gas through this auction; ③ Iraq's Minister of Petroleum also made it clear that it will not continue to support extending production limits at the next OPEC+ meeting.
Be Sure To Check Out Cenovus Energy Inc. (TSE:CVE) Before It Goes Ex-Dividend
The Trader: Canada's Gusher: Winners From a New Oil Pipeline -- Barron's
By Avi Salzman Canada has the third-greatest oil reserves in the world, after Venezuela and Saudi Arabia. But it hasn't been able to capitalize on all those underground riches because there haven't b
Oil Prices Still Under Pressure, Putting OPEC+ Supply in Focus -- Market Talk
Oil prices have recouped some of the losses posted earlier this week, but Brent crude continues to trade below $85 a barrel despite growing tensions in the Middle East.
OPEC+ is “showing love” again, and there may be a change in the OPEC monthly report!
The new changes reflect long-standing cooperation between OPEC and its allies in collectively determining oil production.
Canada's Gusher: Winners From a New Oil Pipeline -- Barrons.com
By Avi Salzman Canada has the third-greatest oil reserves in the world, after Venezuela and Saudi Arabia. But it hasn't been able to capitalize on all those underground riches because there haven't b
Oil Heads for Weekly Gain on Renewed Optimism for US Rate Cuts
Oil headed for a third day of gains — putting crude on course for a weekly advance — as US jobs data supported the case for Federal Reserve rate cuts this year, buoying risk assets.
US oil reserves are in a hurry! The Biden administration clearly raised the upper limit of “oil purchase price”: 79.99 US dollars/barrel
① As US oil reserves have been reduced to their lowest level in nearly four decades, the Biden administration recently stepped up procurement efforts; ② The US Department of Energy said in a document that it will pay $79.99 per barrel of oil. This is the first time that the US government has set a clear price cap.
Goldman Sachs predicts that there is no hope that production will increase at the OPEC+ meeting in June, and oil prices may stay in the 75-90 dollar range
Goldman Sachs said on Wednesday that they no longer expect OPEC+ to announce the partial lifting of its voluntary production cuts at the June meeting.
Seasonal demand for gasoline and diesel in the US is the worst since the pandemic hit refining profits
According to the latest data from the US Energy Information Administration, demand for gasoline and diesel in the US is at its weakest seasonal level since the pandemic.
Express News | Goldman Sachs expects OPEC+ to reduce supply over a longer period of time
For the first time, the US clearly reimburses the SPR price: 79.99 US dollars/barrel!
This is the first time that the US government has set a clear price cap, which is still higher than the previous unofficial limit of 79 US dollars/barrel.
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