Suncor Energy Inc. T.SU

EIA Crude -2.17, Gasoline +1, Dist +0.4

[MigraineCall]

Lower implied demand numbers reflect normal seasonal drop.
Adjustment numbers drop.
Net imports rise to 1.76mm bpd.
Cushing tanks near bottom.



EIA (wk ending 22 Sept)
Crude: -2.170M
Cushing: -0.943M
Gasoline: 1.027M
Distillates: 0.398M






US implied oil demand (product supplied) fell by 773kbpd w/w to 20.141mbpd w/w changes in kbpd
gasoline +209
jet fuel +11
distillate -194
residual fuel oil +136
propane/propylene -701
other oils -236



Cushing Tanks Bottoming:



US crude inventories fell by 3.419mb last week
(commercial: -2.169mb, SPR -0.250mb) - EIA



According to

@EIAgov

weekly preliminary data, the US has imported exactly 383,000 b/d of Saudi crude oil for three consecutives. Not a single barrel up or down over the three weeks. This has never happened ever since we have weekly data starting in 2010. I'm a bit skeptical.

PADD 1 flashing warnings... refinery utilization plummeted 18.2 percentage points to 71.8%, distillates becoming concerning


DOE has finally given up trying to "fudge" oil inventory higher. Adjustment factor tumbles to 8 month low

[pooltec]

Well; once we get $200 a barrel, that is one way to make us buy an EV.  Sucks if you need diesel to get food to market.  But then again we wont be able to buy an EV cause all the paycheck will go to buying food.

[MigraineCall]

If you own oil stocks, you are hedged. Don't worry. If it goes up to $200, your house staff can take the Lambo, the Porsche, or the Ferrari, and go to the market for you.

[meritmat]

And if it hits 200.  Buy Hod and rid the wave down 

[Experienced]

Merimat...yep.. $200 a barrel = 8% inflation and 10% interest rates = massive recession/depression

[integrity11]

Thanks Migraine, you post some very valuable information for oil and NG investors. I really appreciate your posts. They help to more than balance the negative posts from the Battery and EV boys. Not sure why they continue to post their negative views on this board as they seldom have any Likes other than from their like minded posters of which there are a very few fortunately.