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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Post by MigraineCallon Mar 22, 2023 10:49am

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Post# 35353550

EIA on FOMC day: CL +1.1M, but huge draws in products

Increasing gasoline and diesel demand is pulling more stock from inventories, even as refineries come back online from seasonal turnarounds. All this before driving season hits.

Crude shows a slight build, and adjustment factors are once again large.

Implied gasoline demand has risen as refiners pumped out and delivered more product.

This all seems to coincide with the Gasbuddy data showing increases in gasoline demand by about 4%.

From Twitter:

Crude +1.117K, Exp. -1.8MM Gasoline -6.399MM Distillates -3.313MM Cushing -1.063MM Production 12.3MMb/d, +100kb/d How is crude again the outlier? Because the "Adjustment Factor" exploded to 2.230MMb/d, just shy of another record high

US implied oil demand (product supplied) rose by 913kbpd w/w to 20.026mbpd last week w/w changes in kbpd gasoline +366 jet fuel -36 distillate +238 residual fuel -154 propane/propylene +321 other oils +179 EIA

EIA data, week ending 3/18 Crude oil: +1.1M Domestic prod: 12.3MMbpd SPR: NC Cushing: -1.1M Gasoline: -6.4M Impld mogas demand: 8.96Mbpd Distillates: -3.3M Refiner utilz: 88.6% Total exports: 11.94MMbpd

US petroleum inventories (crude, SPR, refined products) fell by 10.435mb w/w to 1,619.566mb last week EIA

EIA (wk ending 17 March) Crude: 1.117M Cushing: -1.063M Gasoline: -6.400M Distillates: -3.313M

Shrinking US Petroleum Inventories:

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