beat first-quarter profit estimates on Wednesday, buoyed by higher production and throughput volumes at its refineries.
“During the first quarter of 2024, we saw strong operational performance from our oil sands and Canadian refining assets, and improved operational performance from our U.S. refining assets,” Cenovus said. Crude oil prices were range-bound during the quarter, but still remained at a level at which oil and gas companies can produce profitably.
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