Q: I’m considering a position in CNQ. My thinking is that as the C$ dives it will be very helpful to oil producers. I would very much appreciate your thoughts and possibly 2 or 3 of your favorites in the sector.
Many thanks
Many thanks
5i Research Answer:
CNQ reports in C$, but it gets US$ pricing for much of its revenue, and has lots of C$ expenses. The currency theory makes sense: it should benefit from a weaker C$. It is one of our favourites in the sector, along with SU, TOU and WCP.