Baytex Energy Corp T.BTE

Bloomberg April 19 - US shipping SPR to Europe

[BayStreetWolfTO]

I wonder how people in the US will feel about this....lower gas prices? Nope



https://www.bloomberg.com/news/articles/2022-04-18/texas-port-sends-strategic-u-s-oil-to-europe-amid-supply-crunch

Oil From U.S. Strategic Reserve Heads for Europe Amid Global Supply Crunch

BySheela Tobben and Joe Carroll

April 18, 2022, 7:04 PM EDTUpdated onApril 19, 2022, 12:30 AM EDT

A cargo of crude from the U.S. Strategic Petroleum Reserve departed a Texas port bound for Europe, a signal of increasing oil-market disarray as refiners shun Russian supplies and prices surge.

 

The rare export of strategic U.S. barrels is evidence of the ever-widening search for crude to replace Russian cargoes seven weeks after President Vladimir Putin’s invasion of Ukraine triggered international revulsion and sanctions. With the global oil benchmark trading above $110 a barrel, traders and refiners also are trying to cope

[Drifter133]

The sadest part about these SPR shipments is the media will not cover this or cover it very little! Most media are in the pockets of this administration

[fortunefavorsus]

If not for the proxy war with Russia would the U.S. be so generous if there were a shortage of oil in the world.  I think if oil prices continue to rise over $150 some will say time to end exports but would that still allow Canada exports?