RE:Something to think about it this week-end !!Every new barrel drawn from the SPR will only further damage to storage chambers but do nothing to impede price . The real problem is the loss of refining capacity with most SPR oil being exported , particularly the light sweet crude . The US needs another 1M to 2M barrel's of refinery expansion , this is another market Canada could be taking advantage of if only Ottawa could see the light .
Q3 will be interesting , with prices having been depressed all summer don't expect a record setter but production levels are what I'm most interested in . Only a few more weeks red and we will see where we stand .