​Canadian crude by rail dips to 310,000 bbls/d in August: CER

Image: Joey Podlubny/JWN

CALGARY — The Canada Energy Regulator says exports of crude oil by rail from Canada fell slightly in August to 310,000 barrels per day from 313,000 bpd in July.

The August number is up 35 per cent from 230,000 bbls/d reported in August of 2018 but still well below the record high of 354,000 bbls/d set last December.

Analysts with Peters & Co. estimate that until a new export pipeline is completed, the WCSB will require at least 400,000 bbls/d of rail and/or curtailments to balance the market.

Alberta has gradually eased its curtailment program in an effort to better align production with tight pipeline capacity, from an initial withholding of about 325,000 bbls/d in January to 125,000 bbls/d in September.

© 2019 The Canadian Press, with files from JWN

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