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:First net crude build in a long time, +1.3mmbbls

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Comment by MigraineCallon Sep 08, 2022 11:45am

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Post# 34949544

RE:RE:EIA:First net crude build in a long time, +1.3mmbbls

A perfect storm this week. It will even out.

BP Whiting was down, less crude being run in PADDII.
Large increase in imports.
Large decrease in exports.
Big draws from SPR going into commercial inventory.
Back to school and the end of summer driving season is usually a build, no surprise to that.

Here's the chart. Truth is the top one. Market is trading off the bottom one. Wait till the market sees the second chart they have been following once the SPR ends in October. We will learn how hockey sticks are made.

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Obscure1 wrote: MigraineCell:

Leaving aside the huge SPR release as a given for the next 7 or 8 weeks, do you have a possible explanation as to the weekly surplus?

Seasonal? Shutdowns? Higher production? Lower exports?

Or is it ridiculous to talk about a 1.3mbbl surplus in light of a 7.5mmbbl SPR release. It seems to me that the SPR releases are so overwhelming that they completely negate any weekly usage.