A change of pacePositives for SU
Line 3 start up at 620 kbpd in October. Line fill probably going in as we speak
Shell is backing out of the Permian. This may forebode them backing out of Canada. I.e less competition both upstream and downstream
Covid is being contained, World case levels going down at 8 to 10% per week. More and more economies opening up
Opec + some countries are having trouble meeting even August demand. Control is being concentrated in only 3 or 4 hands at most
USGC still not back on line loss of 250 kbpd of light sour crude till end of the year
API minus 6.1 million barrels of crude inventory
Investment attitudes will surely be changing as crude and product shortages mount this winter.
Even the most obtuse will finally realise that petroleum is an essential product for which there are no essy substitutes
please add your comments both positive and negative. One proviso , let's try to keep it real out of respect to others !!