Canadian crude rail shipments to increase by 60%

Canadian crude rail shipments to increase by 60%


Shipments of Canadian crude oil to the U.S. by rail could increase by 60% this year according to Reuters. Analysts Tudor, Pickering, Holt & Co said 350,000 barrels are expected to be shipped daily by the end of 2018 with that number reaching 400,000 by 2019. 

Production decline in Central America has led to the growth of Canadian shipments along with increased supplies from the North Americas country.

R - Canadian crude copy

Reuters reports that Tudor Pickering researcher, Matt Murphy said: “Based on where the differentials are today, as an oil producer, you’re incentivized to ship product by rail to the Gulf Coast.”

For more information visit www.tphco.com

8th Jan 2018