Overview
- Canadian executives at the BMO CAPP Energy Symposium said higher crude and gas prices will not reshape their 2026 budgets.
- Cenovus chief Jon McKenzie said the company uses much lower price assumptions for planning to stay durable through market swings.
- Tamarack Valley kept its budget steady but moved up already planned oil wells to preserve options, with its CEO saying pipelines are full.
- Tourmaline reported stronger cash flow yet little room to raise exports because pipeline space and the LNG Canada export plant are fully booked.
- Tanker slowdowns through the Strait of Hormuz helped drive crude near US$120 at the peak, though benchmark prices now sit well below that high.