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Bullboard - Stock Discussion Forum Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks... see more

TSX:SU - Post Discussion

Suncor Energy Inc > Saudi and Russia Stick to Voluntary Cuts Till Year End
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Post by integrity11 on Nov 06, 2023 3:52am

Saudi and Russia Stick to Voluntary Cuts Till Year End

Saudi and Russia just reported they would stick to their volunteer cuts till end of 2023.  Oil is currently up because of this announcement. That should help retain WTI price over $80 at least short term and hopefully longer term. I personally would like to see oil prices stabilize in the $82 to $85 range. That would be sufficient for oilsands companies to maintain excellent cash flows, but also hopefully will not increase inflation imo.
Comment by Experienced on Nov 06, 2023 9:16am
The 85 a barrel number equates to the full ccost if Saudi oil production including social costs and so SA would like to keep the Brent price near that price. In terms of the shorter run, the two big known unknowns are.. 1....war contagion in the Middle East leading to an oil embargo 2,,,,whether or not the US slips into a recession some time between now and end of 1H 2024 My base case ...more