The Latest Breaking News from Upstream

OPEC+’s decision to hike oil output is not expected to ease the global supply crunch immediately and bring down prices. As the worldwide demand strengthens with the lifting of China’s lockdowns and countries’ increased focus on ensuring domestic availability, companies engaged in the upstream activities should benefit. Therefore, prominent energy…

Energy stocks have attracted significant investor attention over the past few months, thanks to soaring oil and gas prices due to strong demand and a global supply crush caused by the Russia-Ukraine war. Because this trend is expected to continue in the coming months, we think it could be wise…

Cenovus Energy Inc (NYSE:CVE) (TSX:CVE) reported a first-quarter basic EPS of C$0.81 compared to C$0.10 in 1Q21. Q1 total revenues increased to C$16.2 billion from C$13.7 billion in the previous quarter, driven by higher average realized sales prices for the company's products across the Upstream and Downstream businesses. The total operating margin was…

The U.S. and its allies have already levied severe sanctions against Russia–with more sanctions in the offing–in response to its alleged killing of civilians in its war with Ukraine, leading to energy supply concerns and higher oil prices. Also, conflict in the Middle East is adding to oil supply concerns,…