RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Re-Fill of SPRMoemoney42 wrote: Hightowntrader wrote: Marty57 wrote: Meanwhile the time when oil starts to flow on TransMountain continues to inch closer. In spite of being the biggest ESG clusterfck in history, progress is being made on the construction of the pipeline and as far as I know the first oil is expected to flow around the end of 2023. There is only so much obstruction that the liberal government can conjure up to delay the pipelines ultimate completion.
What I am most curious about is the impact of on WTI-WCS differential once TransMountain starts to flow. It will be the first time when significant volumes of Canadian oil will be available for export from a Canadian port. I suspect that WTI-WCS differential will shrink to factors determined by transportation costs and oil quality, which I think is around 10 or 12 $Cdn per bbl. So, US administration better get on it if they want to fill up the SPR with cheap WCS oil. Once TransMountain gets flowing the scam of large WTI-WCS differentials might be history...and thank God for that.
Who exatly is the potential buyer of this oil? The same countries that are getting Russia's oil for $60?
Well that's kind of a silly question.. who will buy it..?
The world consumes roughly 100 million barrels a day.. I'm sure there's buyers after Russia's 11 million barrels (and dropping I might add) have been accounted for.. LOL..!
I'm saying that I don't think it's going to miraculously rocket upwards in price at $25 a barrel, It's going to compete with other discounted options...
And wait until the news starts pushing the "glut" of floating oil story. It's always 1 step forward and 2 back...