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Stock impact report

Canadian oil stocks: Trump is 'dead wrong,' say investors who bought the recent dip [Yahoo! Finance Canada]

ConocoPhillips (COP) 
Last conocophillips earnings: 4/30 07:00 am Check Earnings Report
Outside of the COVID-19 pandemic, when global transportation ground to a halt, U.S. President Donald Trump has caused some of the best buying opportunities for Canadian oil stocks in recent memory. That's according to Cole Smead, an Arizona-based portfolio manager who says he bought shares last week, as the sector dipped amid concerns about Venezuelan barrels rivalling Canada's crude exports to America Eric Nuttall, a well-known Toronto-based partner and portfolio manager at Ninepoint Partners, says he was buying Canadian oil stocks last week as well. To put it bluntly, he says the idea that America has gained leverage over Canada by swooping into Venezuela to diversify its oil supplies is “steeped in profound ignorance.” “You have an ultra-risky jurisdiction with massively uncompetitive financial terms, in an area where the rule of law is far from certain, in an oil price environment that is challenging, and in a country where the infrastructure to produce said oil requires bi Show less Read more
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