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 > EIA Crude +8.7, Gasoline +0.75, Dist -1

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Comment by MigraineCallon Nov 22, 2023 11:26am

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Post# 35748481

RE:RE:EIA Crude +8.7, Gasoline +0.75, Dist -1

There is no new oil LOL.
They changed the way they report crude production this summer, and as a result, it also works into inventories.
NGL and light condensates and blended crude are now counted as crude oil.
This is why US production has reportedly spiked even though shale oil depletes, and wells become more light and gassy. It makes sense for the government to continue to report high production to help keep prices in check.

In the end, and to refiners, crude quality matters.