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Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

Energy Oil & Gas Integrated
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

Suncor Energy Inc
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Post by MigraineCallon Jul 26, 2023 11:01am
187 Views
Post# 35557681

EIA: Massive Adjustment, with small draws across the board

EIA: Massive Adjustment, with small draws across the boardImplied demand up.
Exports up.
Imports down.
No SPR change.


Crude 'Adjustments' massive. New record level (16.905mm bbls!!!) 

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EIA analysis: Data shows heat-related struggles; refinery input down 160k & 133k lower at Gulf Coast. Gasoline demand woes continue with 8.94 mil b/d; exports soaking up about 1.5 million barrels of US gasoline production. Gulf Coast refineries struggling to make enough diesel.

US implied oil demand rose by 509kbpd w/w to 21.276mbpd last week w/w changes in kbpd gasoline +84 jet fuel +240 distillate +49 residual fuel oil +56 propane/propylene -83 other oils +163


Gasoline demand: GasBuddy 9.0mbpd EIA implied 8.94mbpd that's the first time in a while our data has been above EIA

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Imports are low and crude exports are high. EIA adjustment won't be able to swing the big crude draw we are seeing for next week.

Crude -600K, Exp. -2.25MM Gasoline -786K Distillate -245K Cushing -2.609MM Production 12.2mmb/d, -100K

EIA data, week ending 7/2 Crude oil: -0.6M Domestic prod: 12.2MMbpd SPR: NC Cushing: -2.6M Gasoline: -0.8M Impld mogas demand: 8.94Mbpd Distillates: -0.2M Refiner utilz: 93.4% Total exports: 10.9MMbpd

US crude imports by origin in kbpd (incl. w/w changes) Canada -495 to 3203 Mexico -174 to 830 Saudi Arabia -184 to 242 Colombia +72 to 287 Iraq +14 to 273 Ecuador +9 to 216 Nigeria +138 to 229 Brazil -141 to 216 EIA


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