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Western Canada’s Oil Exports Rise to Highest Since Sep. 2022

OIL

Oil exports from Western Canada rose in May to average 76.8k b/d in May, as the newly expanded Trans Mountain pipeline began operations, according to Bloomberg citing Vortexa data.

  • The capacity of the pipeline expanded by 590k b/d to 890k b/d and transports heavy sour Canadian crudes rom Alberta to the Pacific Coast.
  • Shipments to the US West Coast rose to 60.2k b/d, compared to 11.2k b/d in April.
  • Northeast Asia-bound cargoes rose to 17.2k b/d in May. There were no flows on this route in April.
  • Trans Mountain expects to operate at around 75% capacity, or 668k b/d, in June, the company told Bloomberg June 3.
  • Almost all the pipeline’s contracted capacity is likely to be utilised in June, along with a small amount of spot supply.
Energy BulletsHomepagemarkets-real-timeBulletCommoditiesCanada Bank of Canada Market News
Energy BulletsHomepagemarkets-real-timeBulletCommoditiesCanada Bank of Canada Market News

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