Canadian crude by rail down in October on weaker economics: CER

Image: Joey Podlubny/JWN

Canadian crude by rail exports were down by approximately 15 percent in October, according to new data from the Canadian Energy Regulator.

The CER reported October volumes at 270,070 bbls/d, down from 319,594 bbls/d in September.

“This decrease is largely due to narrow price differentials in September that made rail less economic for deliveries in October,” the CER said via Twitter.

The situation appears to have improved recently, with Bloomberg reporting on Thursday that rail exports climbed as high as 411,000 bbls/d in November. That would break the previous record of 353,789 bbls/d set in December 2018, according to the CER.

Earlier this month Alberta Premier Jason Kenney predicted that crude by rail out of the province is now set to reach 550,000 barrels a day.

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