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Commercial operations for the 590,000 b/d Trans Mountain Expansion (TMX) crude pipeline in western Canada have officially started today, but tankers will not be able to load crude from the line until later this month.
US crude output rebounded by 4.6pc in February after freezing temperatures in the prior month took production offline in the three largest producing states.
Canada's 590,000 b/d Trans Mountain Expansion (TMX) crude pipeline can now start moving volumes to the Pacific coast after receiving final regulatory approvals today, more than a decade after the project was first conceived.
Canadian oil sands operators enjoying firm profits on strong production are getting ready for a major boost when a new export pipeline to the Pacific coast goes into commercial service this week.
US crude production in 2024 and 2025 will be higher than previous forecasts, but tight inventories will likely support benchmark prices, the US Energy Information Administration (EIA) said today.