Cenovus Energy Inc. (NYSE:CVE) CEO Jon McKenzie highlighted the continued importance of Canadian oil to the US, contradicting President Trump’s claims. Canada supplies nearly 4 million barrels of oil per day to America, despite threats of tariffs. McKenzie also emphasized the need for Canada to diversify its energy trade partners.

Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company operating in Canada, the US, and China, involved in the development, production, refining, and marketing of crude oil, natural gas, and petroleum products. The CEO acknowledged Canada’s reliance on American energy systems and called for diversification in energy trade partners.

While Cenovus Energy Inc. (NYSE:CVE) is considered a strong investment, some believe certain AI stocks offer more upside potential with less downside risk. Investors seeking undervalued AI stocks can look into companies that could benefit from Trump-era tariffs and the trend of onshoring. No disclosures were made.

Read more at Yahoo Finance: Canadian Oil Still Critical to the US, Says Cenovus (CVE) CEO