Cenovus Energy Inc T.CVE

Oil Prices

[retiredcf]

Oil could reach $80 three weeks from now as we get used to Omicron: Analyst

Ira Epstein, senior market analyst at Ira Epstein Division of Linn & Associates, joins BNN Bloomberg to discuss his outlook for the price of oil as demand for the commodity remains uncertain in the COVID-19 environment.

https://www.bnnbloomberg.ca/video/oil-could-reach-80-three-weeks-from-now-as-we-get-used-to-omicron-analyst~2347067

[mrbb]

cracked 75 again 75.86 +0.29 (+0.38%)

[oilandgasmick]

I wouldn't be surprised if we saw 90 bucks by summer. Governments are going to be more conservative now in terms of large scale shutdowns as skepticism continues to grow. I am pro-vaccine and pro-masks but I sense that the public is growing tired of this "crying wolf" chorus that erupts the moment that a new variant shows up-- and that is seen in the price this morning. Also

[JohnSP]

oilgasmick, very good points! Small FYI, here in BC they have delayed reporting weekend Covid Hospitalizations and Deaths from Monday until Wednesday, I suspect there will not be the big increase as expected. My bet is CAD8 bln net debt in Feb, and when annouce Q1/FY results in Feb they will also annouce further increased shareholder returns. Why Feb? 1) Net Debt of CAD10 bln was reached in

[oilandgasmick]

Thanks John: I agree that with the recent asset sales they could be at the $8B debt target by the end of February although it isn't clear to me how much of the asset sales proceeds will go towards debt reduction and how much will be directed towards the share buy backs. I am not a big fan of buybacks so I hope that debt reduction will continue to be the first priority. I would really like to

[meritmat]

  think they said there under 10B at beginning of Dec.  Take off 800 mil come middle of Jan.   I say under 8 by Feb 1.   Reguardless thinks sure look promising for 2022

[mrbb]

we were heading to $90 oil before omicron killed the momentum. I'm pro medical choice, each of us should be free to choose our medical options and defense. Pro vacciners, pro maskers shouldn't be afraid of no mask and non vaccinated since the former are protected, if they believe in them in the first place. Since it is now come to light vaccinated aren't immune to covid infection