Vermilion Energy (VET) Faces Price Target Cut Amid OPEC+ Production Decisions | VET Stock News

Apr 10, 2025

CIBC has revised its price target for Vermilion Energy (VET, Financial), reducing it from C$17 to C$14, while maintaining a Neutral rating for the company's shares. This adjustment comes on the heels of OPEC+'s unexpected announcement to expedite the reduction of previously curtailed oil production. The move by OPEC+ has triggered concerns in the market regarding the future supply and demand balance, leading to a notable decline in oil prices.

In anticipation of the upcoming first-quarter earnings reports in the energy sector, CIBC has also lowered its expectations for oil prices. This shift reflects the broader market sentiment and uncertainties surrounding the oil supply chain influenced by OPEC+'s recent decision.

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