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.

TSX:SU - Post by User

Suncor Energy Inc. > EIA Builds, Crude +7.9M, Gas +2.1M, Dist +2.1M

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Post by MigraineCallon Jun 14, 2023 10:47am

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Post# 35495892

EIA Builds, Crude +7.9M, Gas +2.1M, Dist +2.1M

Crude inventories soared... only they didn't.
What soared was the DOE's "adjustment" factor to 1.9mmb/d from 0 last week.
Once again, the entire "increase" was in some excel spreadsheet.

Massive +13.559M adjustment and +1.883M SPR release.

This is why Crude still trades up today, near $70.
Producer stocks still reeling from the news, and havn't completely read the memo yet.

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US crude imports by origin in kbpd (incl. w/w changes)
Canada -165 to 3339
Mexico +918
Saudi Arabia +611 to 677
Colombia +57 to 184
Iraq -178 to 252
Ecuador -164 to 54
Nigeria -12 to 132
Brazil +8 to 79
Libya -90 to 0

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US implied oil demand (product supplied) rose by 1.187mbpd w/w to 20.408mbpd last week w/w in kbpd gasoline -25 jet fuel +51 distillate -240 residual fuel oil +3 propane/propylene -350 other oils +1747 EIA

US crude inventories rose by 6.037mb (commercial: +7.919mb; SPR: -1.882mb) EIA

EIA data, week ending 6/9 Crude oil: +7.9M Domestic prod: 12.4MMbpd SPR: -0.5M Cushing: +1.5M Gasoline: +2.1M Impld mogas demand: 9.19Mbpd Distillates: +2.1M Refiner utilz: 93.7% Total exports: 9.66MMbpd

EIA (wk ending 9 June) Crude: 7.919M Cushing: 1.554M Gasoline: 2.108M Distillates: 2.123M

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