RE:RE:You all are missing the point prophet and tommy , you keep harping about "futures" and backwardation like these are guaranteed prices . As with everything , those prices can change over a weekend . Furthermore I wonder if anyone actually read the 2020 year end or you are just quoting news article bullet points .
I did read that report and I see a company that has turned the corner . Syncrude (the jewel in the crown) has amped up production to over 500,000 bbl/d and that is the premium product . Whether you call it SSB (Syncrude synthetic blend) or SCO (synthetic crude oil) its the highest quality and receives a premium price . When I first went to work at Syncrude in the early 1990"s , production was about 200,000 bbl/d . Since then they have nearly tripled production . These guys/gals are experts and any problems will always be worked out and over come .
BUT , the most interesting point in that report was the plan to buy (and retire) 44,000,000 shares . Now last year SU's share buy back was held at around $40/sh , at $22/sh they are a screaming deal . As of Feb 8th (Monday) , they have permission to start buying with a daily limit of 2.1 million shares per day . I would expect some supportive buying to start tomorrow as the company looks to maxamize its buying ability and power while taking advantage of this low share price .