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Resources Report

Ovintiv Inc.

Feb 14, 2025

OVV:TSX
Investment Type
Large-cap
Risk Level
Action
Rec. Price (CA$)

Section1: Commodity Update:

Canada has the third-largest proven oil reserve in the world, most of which is in the oil sands. Total Canadian proven oil reserves are estimated at 171.0 billion barrels, of which 166.3 billion barrels are found in Alberta's oil sands and an additional 4.7 billion barrels in conventional, offshore, and tight oil formations.  Canada accounts for 10% of the world’s proven oil reserves. Recently, WTI crude oil futures steadied around $71.3 per barrel, amid rising fuel demand and a delay in U.S. tariff plans. A rise in crude oil inventories in the U.S., the largest crude consumer, also weighed on the market. Still, crude is on track to post a slight gain this week, the first since mid-January.

Data Source: Government of Canada 

Section2: Company Overview and Fundamental Insights:

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