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Canadian crude-by-rail shipments nearly doubled in volume in the last six months of 2023, as oil output from Alberta surged to all-time highs and the Trans Mountain pipeline expansion remained under construction.
Canadian oil production could hit 5.3 million barrels daily this year, this would be a record high and an excess on the country's pipeline network.
A survey of North American equities heading in both directions
Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion starts this year, but the relief may be short-lived as surging supply...
Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion (TMX) starts this year, but the relief may be short-lived as surging supply looks set to exceed the country's pipeline capacity in just a few years. TMX will ship an extra 590,000 barrels per day (bpd) of crude, trebling existing capacity to Canada's Pacific Coast once the C$30.9 billion ($22.8 billion) expansion is finally complete. For much of the last decade, oil companies in the world's No. 4 producing country have been forced to sell their barrels a...