Baytex Energy Corp T.BTE

SPR replenishment

[Wildfury]

How will the Fed replenish the SPR . To replenish means that they will be taking demand /supply out of the market & further adding price pressure to the upside, the reverse effect of SPR release . Where will the replacement oil come from? If the supply of oil is so tight I believe Biden shot himself in the foot. The Fed gambled that after releasing millions of barrels that they could refill at much lower prices , OPEC + has other ideas

[David01montreal]

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[Hightowntrader]

Biden probably thinks he can buy Russian oil...That's why he wanted a price cap...lol

[GambinoB]

I don't think money is an issue the US throws lots of money around buying 250 million barrels is nothing to what they print. The challenge would be finding the oil.

[CADstock]

Keep in mind that Biden doesn't plan to refill the SPR until the fall of 2023.

[HighOctane89]

Plans change , today's NR just shows that everything is negotiable . Never put too much faith in a politician .

[David01montreal]

This post has been removed in accordance with Community Policy

[GambinoB]

I know people are talking about the SPR refill but does it matter. What happens when they stop adding 7 or 8 million barrels a week on to the market. Where will these barrels come from. I'm not sure how much oil one of those big offshore rigs produces but isn't this the same as losing libya from 1.2m down to .2. I still don't know how that is replaced. I imagine they have to extend the

[CADstock]

I agree, where and from whom? Government  may extend releases or they may not.  They may refill or they may not, next year or the year after.The storyline changes from day to day. What about SPR releases from other countries? Will they stop releasing and when do they replenish ? It all does sound rather bullish. But all it takes is one storyline to move the needle..... up or down

[sorrenson]

Stop bringing up facts that really screws up the pumper story