ENB, OVV, SU, IMO & CVE: 5 oil stocks to watch if Canada boosts output

Canada’s oil and gas industry has been on quite the ride this year, thanks to the crippling supply constraints in the global oil market. The S&P/ TSX Capped Energy Index is up by nearly 55 per cent year-to-date (YTD), having outshone the ...

Well, what a year it has been so far for the Canadian oil and gas sector. The S&P/TSX Capped Energy Index has rocketed a whopping 56.3 per cent year-to-date (YTD). How has this happened? Well, production reduced during the pandemic years and w...

Highlights Athabasca Oil (TSX: ATH) has been trending higher on the stock market with a spike of over 11 per cent on May 3. The small-cap company produced 34,679 boe/d (including 92 per cent liquids) in Q3 FY2022. Stocks of Athabasca Oil swell...

The Organization of Petroleum Exporting Countries (OPEC) failed to increase output in April amid capacity woes, as per the latest reports. Iraq was the only OPEC country that reportedly boosted output. However, Canadian energy companies are marchi...

Elliot Investment Management L.P. (Elliot) released an official statement before the market opened on Thursday, April 28, and said it has sent a letter to the Board of Directors of Suncor Energy Inc. (TSX: SU) comprising some strategies to take Sun...

Highlights Whitecap Resources (TSX: WCP) and Baytex Energy (TSX: BTE) have been trending on the stock markets. Whitecap reported petroleum and natural gas revenues of C$ 1 billion in the first quarter of FY2022. BTE stock ballooned by over 394...

Cenovus Energy Inc. (TSX:CVE) announced the financial results for the first quarter of this year and said it achieved a profit of C$ 1.6 billion, representing a massive 639 per cent year-over-year (YoY) increase. Notably, Cenovus Energy has triple...

Highlights The S&P/TSX Capped Energy Index is up over 41 per cent year-to-date (YTD) A stock mentioned here has rocketed nearly 136 per in the last 12 months Another stock has returned nearly 97 per cent in the same period Much may be...

On Wednesday, April 20, as the stock of Canadian Natural Resources Limited peaked to an all-time high of C$86.43, the company became the first oil and gas maker on the TSX to hit C$100 billion in market capitalization. This took it well above the s...

Highlights Volatility in the oil market continued as International Monetary Fund (IMF) reduced its global growth projections. Oil prices slightly rebounded on Wednesday as supply concerns from production outages in Libya continued to weigh on t...