Bullboard - Stock Discussion Forum Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay... see more

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TSX:BTE - Post Discussion

Baytex Energy Corp > EIA report:

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Post by spurwing2 on Jun 28, 2023 10:35am

EIA report:

Latest Release

Jun 28, 2023

Actual

-9.603M

Forecast

-1.757M

-3.831M

The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

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Comment by WaterDPlants on Jun 28, 2023 10:49am

WOW. Just wow. Refineries utilization down but 5.3 Mbls exported. I guess the USA hates oil. But the rest of the world says 'I will take it'.

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Comment by dllscwbysfn on Jun 28, 2023 11:04am

Wow is right. Crude 1% below 5 yr avg. Gas 7% below 5yr. Distilattes 14% below 5 yr. There was also an increase of almost 3 million/bbl imported last week. You also had a draw from the SPR. Rig count down as well. OPEC cutting.Sooner or later the piper will be paid.

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Baytex Energy Corp