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However, its stock is down 16.3% over the past month. This can be attributed primarily to a recent decline in oil prices because of an unexpected rise in {{8849|U.S. crcrude oil inventories.
Although investors’ increasing risk-tolerance in the energy space bodes well for the stock, concerns related to the spread of the COVID-19 Delta variant potentially threatening global demand, and OPEC’s and its allies’ plans to increase production, could cause CDEV’s stock to retreat in the near term.
