Cenovus's Diversified & Resilient Business Model
GLOBAL ENERGY DEMAND CONTINUES TO RISE
Cenovus is positioned to meet growing demand
MMbbls/d
120
Global oil demand is linked to economic growth 1,2
Global GDP per capita
(constant 2015 US$)
100
80
āā
60
40
40
20
20
0
1975
1980
1985
1990
1995
2000
2005
2010
2015
2022
I OECD Oil Demand
Non-OECD Demand
Global GDP per capita
14,000
12,000
From 2024 to 2035:
10,000
The global population
8,000
6,000
4,000
will rise by over 750
million people.2
Global GDP will continue
rising.3
The need for oil
continues now and into
the future.
2,000
0
2035F
1) Energy Institute 2023 Statistical Review of World Energy based on 2022 data. 2) The World Bank DataBank: World Development Indicators. 3) IMF World Economic Outlook October 2023. World GDP growth from 2024-2028
is estimated at 2.9%, 3.2%, 3.2%, 3.1% and 3.1%, respectively.
cenovus
ENERGY
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