SPR Release 2023The U.S. congress mandated 26 million barrels of oil released from the SPR will be done by the end of this week. There have been 21.2 M barrels reported so far. That leaves 4.8 M barrels to be reported over the final two weeks.
- SPR barrels no longer flooding the market.
- barrels now starting to be purchased to replace Biden's SPR drain of 2022.
- Saudis 1 M boe/d production cut starting next week.
- WCS WTI differential down to just over $11 bucks.
ATH should have much improved cash flow for the second half of 2023. That will leave more cash available for NCIB buybacks. It is just a matter of time before the share price starts heading up and up.