Baytex Energy Corp T.BTE

SPR Release Confirmed

[Realdude]

Martin Pelletier from Financial Post just confirmed what I said early last week that US is working strategically with China to release oil from the SPR. That explains why oil stocks aren't popping and why India and China have significantly reduced their imports from Russia and China. The US is stepping in for records exports. My low estimate is 150 million barrels. That's exactly why Eric Nuttal announced today on BNN that oil will be best at $80 for the rest of year. I believe it's headed to $70, which of course I'll take as well.

[Nothingmatters]

Lol this clown fake mofu

[JohnnyDoe]

Gotta a link for that? 

[uwebb429]

https://finance.yahoo.com/news/martin-pelletier-why-may-great-100016406.html The SPR level has not changed since the last congress mandated release that was completed at the end of June.  https://ycharts.com/indicators/us_ending_stocks_of_crude_oil_in_the_strategic_petroleum_reserve I do not see the US releasing any more oil from their SPR just so China can increase their SPR.  Why

[dandu1924]

Yes, Biden will need the approval of the congres and  the SPR  is low and critical limit. So the chance to drain again is  almost  illusion.

[jack4567]

Thanks for this article.  In it, Mr. Pelletier says, "As a result, they have drained the SPR down to 1985 levels, leaving little room for future supply shocks. Instead, they are apparently choosing to sell to the Chinese who have been stockpiling crude reserves on their end." By "Instead", I take it he means "Instead of replenishing the SPR".  Then the

[jack4567]

Oops--I should have said, "Instead of drawing from the SPR"

[WaterDPlants]

Further SPR releases is simply misinformation. The US was, not is, working with China during the SPR releases. The enemy was Russia and not China when the US released oil. The US consulted with China prior to the SPR release. The republicans love this fact since it demonstrates the Biden admin is pro-China. (not completely true either). There are no current plans to release more from the SPR at

[Realdude]

I hope you are right, but the Biden admin is in bed with the Chinese according to me.

[masfortuna]

I read the article. You,apparently, can't read. Read it again and stop posting nonsense. He said the opposite of what you implied. If you need help trying to figure out what Mr. Pelletier said, go back to school instead of wasting your time here.

[Realdude]

Well fortune dude Eric Nuttal said the US govt was gonna stop Iran exports.....Eric just admitted they were dead wrong for the last 9 months or so. stop reading literally like I said before and stop calling people names. 

[masfortuna]

I didn't call you any names. He said the opposite of what you posted. That's a big problem.  Worst is the fact that instead of rereading it and apologizing for getting it wrong, you post that people should not take what an analyst says "literally". Analysts are meant to be taken literally.  They are not writing a novel.