CALGARY – Cenovus Energy Inc. expects production to come in higher and costs to track lower than its earlier 2026 forecast. Cenovus is expecting total upstream production to now range from 970,000 to 1.01 million barrels per day, an increase of 25,000 barrels per day from the midpoint of its earlier range. Average monthly production for July is set to surpass the million-barrel-per-day mark, chief executive Jon McKenzie told analysts on a conference call. Christina Lake has been averaging 400,000 barrels a day for the month of July, he said. Total upstream production was 970,400 barrels of oil equivalent per day, up from 765,900 in the second quarter of 2025.