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. > OPEC+ Surprise Production Cut: 1.657 mm bpd

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Comment by Experiencedon Apr 02, 2023 10:21pm

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Post# 35375321

RE:OPEC+ Surprise Production Cut: 1.657 mm bpd

Yep...

Early response is oil up 5.5% to around 80 for WTI and 84 for Brent. Some people are talking 10% but we will see. The Brent price is the minimum that the Saudis need so there is likely a bit more potential upside but not a lot.

As mentioned before, I bought some oils not long ago due to price inefficiences for a short term hold. Will be looking closely at the action tomorrow and may cash out at least some of my positions for a quick profit - will depend a lot on the SP reaction to the news and pop in the oil price.

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