Canadian crude by rail continues breaking records in July

Image: Joey Podlubny/JWN

Canadian crude by rail traffic continued to rise in July, according to new data from the National Energy Board.

Carloads rose above 200,000 bbls/d for the first time in June, the NEB reported. That increased slightly again in July to approximately 206,000 bbls/d.

Analysts with Peters & Co this week said that traffic has recently risen to approximately 300,000 bbls/d.

The investment dealer expects operators will need to move approximately 500,000 bbls/d of crude out of Canada using rail in 2019 as pipelines remain full.