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AMERICAS OIL: Canadian Oil Producers Should be Able to Weather US tariffs

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

Canadian Oil Producers Should be Able to Weather the Blow from US Tariffs: BMO Economics 

  • Art Woo said argues should be able to withstand broad 25% tariffs imposed by the US because roughly 70% of the crude Canada exported to the US in the first 10 months of 2024 went to refiners in the Midwest and Rock Mountain regions which have limited access to alternative overseas supplies.
  • That suggests Canadian oil producers wouldn’t have to absorb the full tariff. Also, Woo says the Trans Mountain pipeline expansion now provides Canada with more capacity to export overseas to other markets. 
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Canadian Oil Producers Should be Able to Weather the Blow from US Tariffs: BMO Economics 

  • Art Woo said argues should be able to withstand broad 25% tariffs imposed by the US because roughly 70% of the crude Canada exported to the US in the first 10 months of 2024 went to refiners in the Midwest and Rock Mountain regions which have limited access to alternative overseas supplies.
  • That suggests Canadian oil producers wouldn’t have to absorb the full tariff. Also, Woo says the Trans Mountain pipeline expansion now provides Canada with more capacity to export overseas to other markets.