Cenovus Energy Inc T.CVE

Market is disconnected from reality

[TopStockBuy]

OPEC doesn't have the oil to meet the coming demand.  I agree with Goldman.  Major oil shortage is coming.  China's imports are way down because they're using up the cheap oil they bought last year.  With record refinery runs, they will be on the buy side again with record imports.  India will be the same.  It's going to be an expensive summer in 2022 at the gas pumps. 

5+ Million barrels a week coming out of inventory...how can we pay it back with a 5 million per day shortage?  We're already below the 5 year average and heading to ten year lows. Enjoy your cheap gasoline why you can.  

Let Cenovus financials speak for themselves, then the market will follow.  

https://oilprice.com/Energy/Oil-Prices/Goldman-Bullish-On-Oil-Despite-Saudi-UAE-Agreement.html

https://oilprice.com/Energy/Oil-Prices/Goldman-Bullish-On-Oil-Despite-Saudi-UAE-Agreement.html

[mrbb]

that's what i think too, covid lockdown affected opec producers as well or maybe even more so as they likely took more extreme lockdown as they remember the MERS epidemic 2012.   

[TopStockBuy]

OPEC has aprox 6 million barrels to play with, that's all they got.  Demand will strip that away by year end.  Worlwide demand is expected to rise by 5m barrels per day by year end.  US is already drawing that much or more per week from inventory.  By this time next year, OPEC could have no control over oil prices.

[mrbb]

it gonna depends how much the gov'ts want to open up air travel and land border crossing  

[Dogsbreakfast4U]

The market seems to be saying that oil and oil stocks are overpriced if we are all going back into lockdown in a couple of months. As we know in Ontari-owe we are still in a slightly loosened lockdown. We might not come out of the current lockdown before we go right back into another one. Look at what is happening in Australia and Asia right now. A major leage baseball game just got cancelled

[TopStockBuy]

My point exactly.  Eventually supply and demand will dictate the oil price, not the media.  Lockdowns or not, oil inventories are dropping dramatically and oil demand is rising to record levels.  China is currently refining more oil than anytime in history.  Ontario can lock up for good, won't make a diffrence.  

[MaynaardKeanes]

Hey  now most of you guys seem to be getting bearish. this means it's time to buy this stock down.  always the same thing. You go crazy positive when the stock goes up and you go all sad and blue when it's going down. Maybe think about being happy when it's going down and being careful when it's going up.   

[newcoin]

I'm not sad just very disappointed. We always talk about the markets being the most efficient analyst. Not in this case. The stock is worth considerably more.

[MaynaardKeanes]

I'm not disappointed. I'm happy that I know that the stock is worth more than the market says it is. And that just makes it easier to create  investment safety as every time it goes down more, the investment gets safer and less risky, and becomes a better investment but seriously , how can that not be obvious  

[RagingBull3]

Yes, the market can be "WRONG".   But it's the market....So, it's "Right" even if it is "Wrong"... And the Market can be "Wrong" longer than you can afford to be "Right".    You are losing to inflation if CVE shares goes Horizontal with dividend yield of only 0.655% only, while all that time taking on risk.