Thursday, August 23, 2018

Canadian CBR Surged In June, 2018

We've talked about CBR-Canada a number of times recently; past blogs on CBR Canada:
Now, today, from SeekingAlpha;
  • Canadian crude oil exports by rail surged 87% in June from a year ago to more than 204.5K bbl/day, according to the National Energy Board; June was the last full month for which the NEB has relevant data
  • constraints on Canadian takeaway capacity has suppressed the price for the Canadian crude oil benchmark by as much as $30/bbl relative to the U.S. WTI benchmark
  • "With western Canadian pipelines full, greater volumes crude by rail volumes will continue to grow into the fall," [a spokesman] says, expecting movement to average between 200K-300K bbl/day for the full year
  • TransCanada is trying to expand that network to southern U.S. export terminals through the Keystone XL pipeline, although environmental challenges have delayed the project, and Kinder Morgan has tried to triple the capacity of its Trans Mountain network to British Columbia ports amid intense regional opposition

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