Crescent Point Energy (CPG) is not immune to the Russian-Saudi oil price war in the context of expected reduced worldwide oil consumption because of the coronavirus pandemic: The company's stock price dropped by 68% since the beginning of March.
However, thanks to its strong hedges and improving debt structure, the Canadian oil producer is prepared to deal with low oil prices over the next several quarters. In addition, management announced this Monday a reduced capital program that will be fully funded with WTI at a low US$30/bbl range for the remainder of the