Baytex Energy Corp T.BTE

Clear manipulation by US to pull the oil price….

[Paray99]

US inventories up by 19M barrels, while experts estimated almost 1M drop. Not bad... that is just 20M barrels difference. Thanks to the experts who estimated the US inventories accurate to one-fifth of the total daily world consumption. You can't find any better idiots in the street guys!

[Maxmoe]

Context and perspective is required. Global Oil production was about 90 million barrels per day in 2021 as per statista     https://www.statista.com/statistics/265203/global-oil-production-since-in-barrels-per-day/ which was down from 95 million b/d in 2019 pre Covid. If I assume a 24 hour production clock, at 90 million b/d it takes about 5 hours to produce 19 million barrels. 19

[dandu1924]

And the 19 M barrels,  this is the effect  of the winter storm at the end of december  and the oil refining were closed. The next week will be interesting to watch.  At 5.33 am  WTI  $78.26

[Konaboy]

I would suggest taking a closer look at the (higher) import / (lower) export numbers for an explanation of the build, and why the price did not tank on the build.