Bullboard - Stock Discussion Forum Ovintiv Inc OVV

Alternate Symbol(s): T.OVV

Energy Oil & Gas E&P

Ovintiv Inc. is an oil and natural gas exploration and production company. The Company is focused on the development of its multi-basin portfolio of top tier oil and natural gas assets located in the United States and Canada. Its operations also include the marketing of oil, natural gas liquids (NGLs) and natural gas. Its segments include USA Operations, Canadian Operations, and Market... see more

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NYSE:OVV - Post Discussion

Ovintiv Inc > Oil rallying to $ 34.37 now....going to $ 45/b in June 2020

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Post by Hiddensecrets on May 26, 2020 9:15am

Oil rallying to $ 34.37 now....going to $ 45/b in June 2020

Oil demand is STRONG.

With massive cuts in production and strong oil demand, oil prices will keep on rallying.

The present case was not a recession or depression, it was forced lockdown at home, which is very different and, people WANT TO GO OUT and HAVE A LIFE.

The last thing they want to do is stay at home.

This means lots of activities and, of course lots of demand for gasoline and oil as we move around.

As airplanes begin to return to normal expect even stronger demand for oil.

MPO

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Comment by sunshine7 on May 26, 2020 10:31am

It will take a while before consumption reaches pre-covid demand, however, the real driver is demand/supply balance and right now it is tipping in favour of supply cuts.

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