Suncor Energy Inc. T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading, offshore oil and gas production, petroleum refining in Canada and the United States and its Petro-Canada retail and wholesale distribution networks, including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicles (EV) stations. Petro-Canada has a network of over 1,800 retail and wholesale locations across Canada, providing customers with a wide variety of fuel and service offerings including low-carbon fuel options. It is developing petroleum resources while advancing the transition to a low-emissions future through investment in power and renewable fuels. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region, approximately 90 kilometers north of Fort McMurray.

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Suncor Energy Inc. > EIA confirms API yesterday: Big Draws across the board

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Comment by newcoinon Jul 28, 2022 1:21am

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Post# 34855972

RE:RE:EIA confirms API yesterday: Big Draws across the board

SU is on sale now.
No one rings a bell.
Just buy it.

Experienced wrote:

MigraineCall wrote: OK. Markets are nervously waiting for the shoe to drop, but with the slight reduction in demand so far, it just ain't happening.

Demand destruction is going to have to get a whole lot worse in order to start to slow down these massive decreases in inventories week by week across the board. How long till the market wakes up?

US crude inventories fell by 10.127mb last week (commercial -4.523mb, SPR -5.604mb)

U.S CRUDE OIL INVENTORIES ACTUAL: -4523K VS -445K PREVIOUS; EST -1500K

U.S CUSHING CRUDE OIL INVENTORIES ACTUAL: 751 VS 1143K PREVIOUS

U.S GASOLINE INVENTORIES ACTUAL: -3304K VS 3498K PREVIOUS; EST -1000K

U.S DISTILLATE INVENTORY ACTUAL: -784K VS -1295K PREVIOUS; EST -500K

EIA data, week ending 7/22
Crude oil: -4.5M
Domestic prod: 12.1MMbpd
SPR: -5.6M Cushing: +0.7M
Gasoline: -3.3M
Impld mogas demand: 9.25MMbpd
Distillates: -0.8M
Refiner utilz: 92.2%
Total exports: 10.87MMbpd

US implied oil demand (product supplied) fell by 1.049mbpd w/w to 19.976mbpd last week w/w changes in kbpd :
gasoline +724
jet fuel +27
distillate +53
residual fuel oil +13
propane/propylene -506
other oils -1460

Don't disagree with your underlying hypothesis about demand destruction and potential shortages of oil.

However, the fact of the matter is that if my underlying scenario about the economy and the market turns out to be accurate, the SP of SU will fall irregardless of the numbers you present. In past stock market downturns, when the tide goes out all company SPs go down - it is just a fact of life.

The key to my past success is to recognize this and have the assets to buy companies that are on sale and ride the wave going back the other way.