Cenovus Energy Inc T.CVE

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

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. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.

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Cenovus Energy Inc > Illogical, illogical please explain why oil is not moving???

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Comment by mrbbon Sep 30, 2024 1:12pm

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Post# 36247024

RE:RE:Illogical, illogical please explain why oil is not moving???

36 more days til US election, gotta keep those petro price down

other industrial commodity gold, silver, copper, aluminum, nickel are up in 2024 due to USD dropping
China implemented stimulus
loss of libyan oil production

yet oil still went down

downwithdotcom1 wrote: confirmation of "i told you so"...as said before, its those criminal shotcallers at work...supply/demand fundamentals are not setting the price right now...see below

"Hedge funds sold ie shorted U.S. energy company stocks at the fastest pace in five years and the sector was the most sold on Goldman Sachs’ prime brokerage trading desk last week, the bank said in a note sent to clients on Friday and seen by Reuters on Monday.

The proportion of short bets outpaced long positions roughly six to one, the bank note said. Last week’s short selling in the sector was the largest in over five years, it said. While selling last week reached a height, hedge funds had been dumping and shorting energy stocks for five straight weeks."