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Stock impact report

Here is Why Cenovus Energy (CVE) Fell This Week [Yahoo! Finance]

Cenovus Energy Inc (CVE) 
Last cenovus energy inc earnings: 4/29 06:00 am Check Earnings Report
US:NYSE Investor Relations: cenovus.com/disclaimerir
Company Research Source: Yahoo! Finance
Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company with oil and natural gas production operations in Canada and the Asia-Pacific region, and upgrading, refining, and marketing operations in Canada and the United States. Cenovus Energy Inc. (NYSE:CVE) was among the Canadian oil stocks that took a hit following the recent US action in Venezuela and the capture of Nicolas Maduro. The prospects of large amounts of Venezuelan crude making its way to America's Gulf refineries spell bad news for Canadian oil providers, especially those linked to Canadian oil sands, as Venezuela's oil is similar to that produced in Alberta. Nearly 60% of American crude oil imports come from Canada, and even if a portion of this is replaced with Venezuelan crude, it could impact producers in the short term. Moreover, the cheaper oil coming from Venezuela would potentially drive down the price American buyers pay to Canadian producers, putting further pressure on margins and profits in an alrea Show less Read more
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