Canada | Crude oil shipments by rail nearly doubled in past six months

(Calgary) New data from the Canada Energy Regulator shows Canadian crude oil shipments by rail almost doubled in volume in the last six months of 2023.

Oil export volumes by rail increased from 78,747 barrels per day in May last year to 157,142 in December.

For all of 2023, Canadian crude exports by rail averaged 119,077 barrels per day, a seven-year low and a 17% decline from 2022.

But the significant rise over the past six months shows the impact of strong oil production in Alberta, which has filled Canada’s export pipelines almost to capacity.

Alberta’s crude oil production hit a record in 2023, totaling just under 1.4 billion barrels last year, or about 3.73 million barrels per day.

Oil sands companies have stepped up the pace toward opening the Trans Mountain pipeline expansion, which will add another 590,000 barrels per day of export capacity, but the project has faced challenges numerous delays and construction difficulties.

source site-55