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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Baytex Energy Corp > API draws across the board

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Post by jleer42 on Aug 27, 2024 6:05pm

API draws across the board

For what it's worth API has draws across the board this week. API may produce suspect numbers, but they can influence sentiment.

Crude -3.4 million (exp. -3 million)

Gasoline -1.86 million

Distillates -1.4 million

Cushing -486,000

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Comment by Moemoney42 on Aug 28, 2024 10:48am

Unfortunenately these numbers fall short of any influence for a long time now.. as evidenced by crudes action this morning.. :-/

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Comment by 1234bmth on Aug 28, 2024 11:23am

If the data shows build of oil and gasoline, it will have an immediate negative impact, but unfortunately on the draw Side the impact is limited.

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Comment by Antonyius on Aug 28, 2024 1:08pm

That's because crude commodity is completely disconnected from any fundamentals. I went back and tallied all the reported vs estimated EIA and API numbers from this week back to June 12 / June 28 respectively. For the EIA we're down 30.739 million barrels (estimated was -19.6) and the API was down 28.821 million barrels. Yet they put out a few "China demand is weak" ...more

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Baytex Energy Corp