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Veren Inc T.VRN

Alternate Symbol(s):  VRN

Energy Oil & Gas E&P
Veren Inc. is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. Its core operational areas include Kaybob Duvernay and Alberta Montney, Shaunavon and Viewfield Bakken. Its Kaybob Duvernay is situated in the heart of the condensate rich fairway, Central Alberta, which provides low risk drilling inventory. Its Alberta Montney assets sit adjacent to its Kaybob Duvernay lands, possessing similar resource characteristics including pay thickness and permeability in the volatile oil fairway of the reservoir. Its Shaunavon resource play is located in southwest Saskatchewan. The Viewfield Bakken light oil pool is located in Saskatchewan.


TSX:VRN - Post by User

Veren Inc
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Post by smallcaptdron Feb 15, 2023 10:26pm
286 Views
Post# 35288939

Whats driving Oil is Bullish

Whats driving Oil is BullishThe market outlook has turned positive so I don't see any reasons for it to be red tomorrow even with US Building Permits & PPI MoM at 8:30am I haven't yet seen Oil react on Building Permits and with the US rallying Oil up over $79 there's a great likelihood that they will support higher prices if overseas continues this bullishness move 

WTI crude futures rose above $79 per barrel on Thursday, snapping a two-day decline as investors shrugged off official data showing US crude inventories jumped by 16.3 million barrels last week, far exceeding expectations of a 1.2 million barrel build. An upbeat demand outlook from the International Energy Agency also supported prices, predicting that global oil demand will rise by 2 million barrels per day in 2023. The IEA also said that China will account for almost half of this year’s oil demand growth after the country exited its strict zero-Covid policy. OPEC+ revised its oil demand forecast higher as well by 100,000 barrels per day due to stronger demand from China, while stating recently that it plans to stick with production quotas fixed late last year for the rest of 2023. Meanwhile, oil prices came under pressure earlier this week after the US government announced plans to release an additional 26 million barrels of oil from strategic reserves.



Crude oil - 2023 Data - 1983-2022 Historical - 2024 Forecast - Price - Quote - Chart (tradingeconomics.com)
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