Why Greenfire Resources (GFR) Is Falling This Week

We recently published a list of Energy Stocks that are Losing This Week. In this article, we are going to take a look at where Greenfire Resources Ltd. (NYSE:GFR) stands against other energy stocks that are declining this week.

The energy sector suffered a massive blow this week after the West Texas Intermediate (WTI) crude price plunged even further to just over $57, a level it last hit in 2021 during the COVID-19 pandemic. The sharp decline comes as a result of OPEC+ announcing a larger-than-expected output increase for June. This follows a similar production boost announced for May, meaning that the group is now bringing more than 800,000 bpd of additional supply to the market over the course of two months.

Instead of acting like a stabilizing force in global oil markets, Saudi Arabia has now adopted an aggressive strategy aimed at disciplining overproducing members like Kazakhstan and Iraq, and expanding its own market share. This could also be a part of the country’s efforts to build good relations with Donald Trump, who has repeatedly called on Riyadh to increase production and bring prices down.

Goldman Sachs has now cut its forecast for US crude prices this year by $3 to $56 per barrel. With oil currently hovering around the $58 mark, many US shale producers will struggle to break even, forcing them to potentially stop drilling and cut jobs. In fact, two big American shale producers revealed earlier this week that they are cutting capital expenditure in response to sliding oil prices, prompting industry warnings that US production had peaked and could begin to decline.

A fleet of industrial vehicles cleaning a beach polluted by an oil spill.

Our Methodology

To collect data for this article, we have referred to several stock screeners to find energy stocks that have fallen the most between April 30 to May 7, 2025. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked according to their share price decline during this period. At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

Greenfire Resources Ltd. (NYSE:GFR)

Share Price Decline Between Apr. 30 – May. 7: 15.45%

Greenfire Resources Ltd. (NYSE:GFR) is an oil sands producer actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada.

Greenfire Resources Ltd. (NYSE:GFR) missed profit estimates in its Q1 2025 results reported this week, with its EPS of $0.17 falling below expectations by $0.06. The company also highlighted a decrease in bitumen production to 17,495 bbls/d, a 10% drop from the previous quarter. Greenfire has revealed challenges in its Expansion Asset, where production in the first quarter decreased by 21% compared to the previous quarter, primarily due to steam generation downtime and production declines following the 2024 Refill program.

Overall, GFR ranks 3rd on our list of the energy stocks that lost the most this week. While we acknowledge the potential of energy companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GFR but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.