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Bullboard - Stock Discussion Forum 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... see more

TSX:VRN - Post Discussion

Veren Inc > Oil rises on hopes for China's economy; recession fears
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Post by smallcaptdr on Dec 19, 2022 7:47pm

Oil rises on hopes for China's economy; recession fears

China says that they will increase Oil demand but with no timeline, how many times has it been now that China has come out promising that? and each time Oil rallies until the truth comes out this has been the way for some time now and in this news article China is saying that they will fight all negative views of China, its painfully obvious that China worries more about its image than the people dying of COVID and they have proven this by limiting any data that they release concerning COVID so how can you trust them and their manufacturing numbers are heading lower all the time so how can they promise a speedy recovery and promise higher demand for Oil, plus they're buying a lot of their Oil from Russia at $53 so how can the US beat those prices. China will be strapped with COVID for years and I don't see any pickup in demand coming from them till mid-year all you have to do is DD China COVID news and they are #1 in the world right now with COVID escalating.
We'll see how Oil trades through the week but looking at Oil stocks they're not buying into this rally because no one knows where it's going one thing seems sure that we're not hitting $80 Oil and that's keeping pressure on SP to stay lower because if investors can't see any upside then they will stay on the sidelines till Jan.


Oil rises on hopes for China's economy; recession fears limit gains By Reuters (investing.com)
Comment by Diligent2 on Dec 20, 2022 6:19am
So let me understand. Eu put a cap on oil and OPec+ and all the us and cdn oil companies will just submit and let their shares fall in value. Maybe not?
Veren Inc