Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 269,000 gross acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.

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Baytex Energy Corp > The consumer is set-up to get wrecked.

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Comment by Moemoney42on Mar 23, 2023 11:30am

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Post# 35356287

RE:RE:The consumer is set-up to get wrecked.

My take on China's imports are this.. they had filled their storage to the top with cheap Russian crude and until they burn off the excess in storage they will be short on imports.. now that the Brent & WTI prices have softened they will be back in the market buying.. my guess mid Q2 we'll see the crude prices firm up again to reflect this dynamic.. time will tell if I'm correct on my call or not..?

masfortuna wrote: OR...

A lot of the bullishness around oil prices has to do with China. Chinese energy commodity imports were underwhelming in the first two months of 2023, but they are expected to pick up later this year with potentially record-high crude oil purchases, even though Beijing has set its lowest annual economic growth target in decades.

Average oil imports over the first two months of the year were lower than last year’s but only modestly, by 1.3%. Oil imports during January and February tend to be weaker in China because of the Lunar New Year holidays, anyway.

Yet pretty much every analyst expects Chinese demand for oil to grow in the coming months with a view to that growth rate of 5% set by the government. Besides, there is some new refining capacity coming online this year, which should guarantee stronger demand and lend a hand to prices.