Nuvista Energy Ltd T.NVA

Api

[Carjack]

The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 1.1 million barrels for the week ended April 1, according to sources. The API also reportedly showed a weekly inventory decline of 543,000 barrels for gasoline, but distillate stockpiles rose by 593,000 barrels. Cushing, Okla., delivery hub were up by 1.8 million barrels last week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. On average, the EIA is expected to show crude inventories down by more than 1.85 million barrels for the week, according to analysts polled by S&P Global Commodity Insights. The survey also showed expectations for weekly supply declines of 350,000 barrels for gasoline and 700,000 barrels for distillates. Oil prices fell in the electronic trading session after the API data. May West Texas Intermediate crude CLK22, -2.38% was at $100.72 a barrel in electronic trading, after settling Tuesday at $101.96 on the New York Mercantile.

[Carjack]

United States API Weekly Crude Stock Overview History News  Analysis  Actual:1.080M  Forecast:-1.558M  Previous:-3.000M  Importance:   Release Date:Apr 05, 2022  Currency:USD Country: United States Source Of Report:American Petroleum Institute

[Carjack]

U.S. crude oil production rose to 11.7 million bpd as of March 25. It was the first increase to U.S. crude oil production in months. Crude production in the United States is still down 1.4 million barrels per day from pre-pandemic times. This week, the API reported a draw in gasoline inventories at 543,000 barrels for the week ending April 1—after the previous week's 1.357-million

[Oldnagger]

The API numbers do not include any draws on the SPR. For this reason, the Crude inventories do not reflect the increasing shortage of production !! For the EIA numbers tomorrow, the effect of SPR releases will be shown at the URL listed below  https://www.eia.gov/dnav/pet/pet_sum_sndw_dcus_nus_w.htm

[Carjack]

I thought I read the spr release starts the 18th and runs 6 months from there. Last of the russian ships off loaded on the 17th, they were in transit and not affected by the ban.

[Oldnagger]

Correct, but there are still transfers being done in accordance with prior purchase/sales We will see tomorrow how much (if any) BTW I expect the current P/S will extend way past 6 months at a much slower  rate than Biden indicated

[Carjack]

Prior to Biden’s announcement last week, the U.S. released 30 million barrels of oil in March from the reserves.

[Oldnagger]

According to the data supplied by the EIA , as of Mar 25 there were 568.322 million barrels in the SPR. On Feb 25 there were 580.020 million barrels. Thus the drawdown rate was 11.698 million barrels divide by 28 day or 418 kbpd !! A long way off of a million !! Not a very good idea to heed the blathering words of politicians IMHO !! So sad that our mostly inaffective media lets this go on.