Baytex Energy Corp T.BTE

Massive SPR release of 50 million barrels by US

[Unlucky13]

As expected, it's not baked in and oil is down a buck now!  BTE going to the $3.50s here.  Going to be an ugly stretch here as the US and China keep releasing crude.   We all should have sold and this will be an ugly trading day here.

[1234bmth]

50Mb over next months, so maybe 3Mb a month, which is almost 100000b a day, it may prevent  oil from going back to $86 for couple of months, but won't do much to bring price down from here.

[Konaboy]

The U.S. Department of Energy will make available releases of 50 million barrels from the SPR, of which 32 million barrels will be in the form of an exchange over the next several months, releasing oil that must be returned to the Strategic Petroleum Reserve in the years ahead. Another 18 million barrels will be an acceleration into the next several months of a sale of oil that Congress had

[Maxmoe]

The world consumes 50 million barrels by noon. Every day. Not over months or years.

[red2000]

It's like a kind of sizzle on the line to afraid the market just enough, to give a chance to Big Boys to take the train !!! Now we can reach slowly 80$+ again ! We see them seated in the 1st row !! Only my O !

[woodsmen]

  Get back to your Moms basement!!