Baytex Energy Corp T.BTE

The algo's swoon on massive import build

[HighOctane89]

As usual the headline doesn't tell the real story , all the media say's is 4.1M barrel build .

Imports increased by 1.4Mbpd during this weeks report to 7.3Mbpd to the US supply , 1.4M X 7 days = 9.8M barrels OF INCREASED IMPORTS OVER THE PREVIOUS WEEK . Without these additional imports the report would have read , 5.7M barrel draw . The same goes for gasoline and diesel , imports are clouding the entire picture .

[Chrisinvan7]

Indeed, there's been a significant increase in imports since mid January, conveniently timed with the end of the SPR releases.. Biden essentially bestowed civil immunity on MBS in late Nov over Khashoggi. Could diverting more barrels to the USA be the Saudis upholding their end of the deal?

[Canukiwi]

Add the gas & diesel pouring in from Russian crude refined in SE Asia.

[Moemoney42]

I'm beginning to think the waffling of the price of crude is a direct result of US manipulation to acheive the 2% inflation target the Fed's want.. and not the result of lack of demand.. nearly full employment in the US and Canada for that matter, strong economies in India and China slowly emerging from lockdown are not reasons for weak demand.. but the headline pushers want to have you

[pauliseminem]

This post has been removed in accordance with Community Policy

[HighOctane89]

It all comes down to the changes made last year to how the EIA reports crude stocks , the changes turned the focus on supply so as to give SPR releases more headline drama . The EIA no longer pays attention to demand but how supply relates to demand . Take the last few weeks as an example . 2 weeks ago the US imported 41.3M barrels of crude , last week imports ballooned to 51.1M barrels , an

[SmokeyOB]

Higher highs and higher lows. Time to get the P/E back to some sort of normal. That's what I say. 

[red2000]

Good morning HighOctane89 ! Again a very nice post, with very good explanation ! I repost a part of the end : Very well said ! Always interesting to read your post ! Take care ! Still Long ! Time is running out on this masquerade and as we close in on driving season , the true nature of this deception will be exposed . Why governments insist on this hostile attitude toward such a critical