(Source: S&P Global Platts, August 12, 2022)
Canadian crude oil production has exceeded pre-pandemic levels and is poised to hit new records above 5.2 million b/d by the end of 2022, opening up a crude-by-rail arbitrage until pipeline capacity catches up. Canadian railroads into the US are expected to receive extra crude barrels for the rest of this year and well into 2023.
Full story: S&P Global Platts