(Source: Bloomberg, February 11, 2019)
CALGARY — Alberta’s effort to alleviate a crude glut through mandatory production curtailments may be backfiring, as Canadian heavy crude has become too expensive to ship by rail. Two months after the provincial government announced the cuts, crude-by-rail shipments are declining even as pipelines remain at or near capacity. Rail volumes fell 56 per cent last week compared with three weeks earlier, after setting a record in December.
Full story: Financial Post