Bullboard - Stock Discussion Forum Cenovus Energy Inc T.CVE.WT

Primary Symbol: T.CVE Alternate Symbol(s): CNVEF | CVE | T.CVE.PR.A | T.CVE.PR.B | T.CVE.PR.C | T.CVE.PR.E | T.CVE.PR.G | CVE.WS

Energy Oil & Gas Integrated

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore.... see more

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TSX:CVE - Post Discussion

Cenovus Energy Inc > iEA

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Post by retiredcf on Jun 14, 2023 10:41am

iEA

The red in the sector today might be because investors have missed the highlighted portion. GLTA

IEA WARNS OF SLOWING OIL DEMAND GROWTH

The International Energy Agency is warning global oil demand growth will slow precipitously as we near a peak in consumption. The IEA says 2024 demand is expected to grow at half the rate seen in the prior two years, before essentially hitting stall speed in 2028 (growth of 400,000 barrels per day by then.) The IEA says gasoline use will go into decline from this year onwards, with demand for oil as a transport fuel writ large following suit in three years, with the remainder of demand growth being confined to petrochemicals. There’s also a distinct bifurcation in the near and mid-term outlooks. In the immediate future, the IEA sees the potential for world oil markets to tighten “significantly” due to a rebound in Chinese consumption and lower production out of OPEC+ before the aforementioned slowdown kicks in.

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