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Friday, 06 July 2018 12:06

Crude by rail on the rise

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The National Energy Board says crude-by-rail exports from Canada grew to a record 193,500 barrels per day in April, up 13 per cent from the previous month, as full pipelines forced more producers to use trains to get their products to market.  Demand for Canadian heavy oil is expected to increase as it will be needed in the US Gulf Coast refining complex to replace shrinking volumes from Venezuela.  US refiners took 3.73 million barrels a day of Canadian oil for the week ending June 29, the largest volume in weekly government data going back to June 2010. The boost helped thrust total US crude imports to 9.01 million, the highest in over a year.

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