RE:EIA: Crude -10.6, Gasoline -0.2, Dist +1.2Thanks Migraine for all of the reports. I also follow the weekly EIA reports. Amazing that crude stock in US have fallen 96 million barrels in last 12 months and quite a bit more of you look past 12 months. There are a great many hedge funds/investment funds trying and mostly successful in their attempts to lower the oil price. For the most part they have been successful keeping it to the low 80s despite their efforts to lower the price.
It appears we will 80 oil for this year and likely 2024. That is great news for low decline oil sand producers like Suncor, CNQ, Cenovis, Meg, etc. Great to see so many positive SU and Canadian Energy posters on this site. We still get a few sporadic posts from a few posters not interested in this sector. Hopefully we can direct them to other more appropriate billboards where they can spew their negativity.