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Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

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 production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.


TSX:SU - Post by User

Post by MigraineCallon Jul 27, 2022 10:41am
257 Views
Post# 34853635

EIA confirms API yesterday: Big Draws across the board

EIA confirms API yesterday: Big Draws across the boardOK. Markets are nervously waiting for the shoe to drop, but with the slight reduction in demand so far, it just ain't happening.

Demand destruction is going to have to get a whole lot worse in order to start to slow down these massive decreases in inventories week by week across the board. How long till the market wakes up? 


US crude inventories fell by 10.127mb last week (commercial -4.523mb, SPR -5.604mb)

U.S CRUDE OIL INVENTORIES ACTUAL: -4523K VS -445K PREVIOUS; EST -1500K

U.S CUSHING CRUDE OIL INVENTORIES ACTUAL: 751 VS 1143K PREVIOUS

U.S GASOLINE INVENTORIES ACTUAL: -3304K VS 3498K PREVIOUS; EST -1000K

U.S DISTILLATE INVENTORY ACTUAL: -784K VS -1295K PREVIOUS; EST -500K



EIA data, week ending 7/22
Crude oil: -4.5M
Domestic prod: 12.1MMbpd
SPR: -5.6M Cushing: +0.7M
Gasoline: -3.3M
Impld mogas demand: 9.25MMbpd
Distillates: -0.8M
Refiner utilz: 92.2%
Total exports: 10.87MMbpd


US implied oil demand (product supplied) fell by 1.049mbpd w/w to 19.976mbpd last week w/w changes in kbpd :
gasoline +724
jet fuel +27
distillate +53
residual fuel oil +13
propane/propylene -506
other oils -1460


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