{"id":32469,"date":"2018-03-17T06:12:44","date_gmt":"2018-03-17T11:12:44","guid":{"rendered":"http:\/\/olduvai.ca\/?p=32469"},"modified":"2018-03-17T06:13:53","modified_gmt":"2018-03-17T11:13:53","slug":"canada-is-facing-a-heavy-crude-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=32469","title":{"rendered":"Canada Is Facing A Heavy Crude Crisis"},"content":{"rendered":"<h3><a href=\"https:\/\/oilprice.com\/Energy\/Energy-General\/Canada-Is-Facing-A-Heavy-Crude-Crisis.html\">Canada Is Facing A Heavy Crude Crisis<\/a><\/h3>\n<picture><img decoding=\"async\" class=\"singleArticle__articleImage\" title=\"Canada Oil\" src=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/718x300\/cb133d8374bec80ac63e4b7b90160292.jpg\" alt=\"Canada Oil\" \/><\/picture>\n<div id=\"article-content\" class=\"wysiwyg clear\">\n<p>Canada\u2019s benchmark heavy crude oil <a href=\"https:\/\/www.platts.com\/latest-news\/oil\/houston\/canadian-heavy-pipeline-crude-oil-drifts-lower-26914335\">widened<\/a> its discount to WTI to the largest in six trading sessions on Thursday, as additional storage capacity in Alberta and data about lower crude-by-rail shipments added concerns over the domestic oil glut, as TransCanada\u2019s Keystone Pipeline has yet to return to normal pressure levels following a leak and temporary shutdown last November.<\/p>\n<p>On Thursday, <a href=\"https:\/\/oilprice.com\/oil-price-charts\/257\">Western Canadian Select<\/a> was trading at a discount of US$27 a barrel to WTI. The discount widened to the biggest level, US$30.55 a barrel, in four years on February 5, after a selloff following the temporary shutdown of Keystone in mid-November.<\/p>\n<p>This week, market participants were digesting news about increased storage capacity and January crude-by-rail data. Crude-by-rail exports out of Canada fell by 11.3 percent month on month in January to 140,959 bpd, according to the latest data by Canada\u2019s Crude Oil Logistics Committee, quoted by Platts. Analysts had expected rail crude exports to be either flat or down, because Canadian rail operators and customers had reported delays in shipments due to extreme weather.<\/p>\n<p>In addition, Kinder Morgan Canada and Canadian midstream operator Keyera <a href=\"https:\/\/www.newswire.ca\/news-releases\/tanks-five-and-six-of-twelve-completed-ahead-of-schedule-at-kinder-morgans-base-line-terminal-joint-venture-676710063.html\">said<\/a> earlier this week that they added two additional tanks at the Base Line Terminal for service ahead of schedule. The two tanks add an additional 800,000 barrels of crude storage to the 1.6 million barrels currently in operation.<\/p>\n<p>Meanwhile, data from Canada\u2019s National Energy Board (NEB) showed that the Keystone Pipeline, which was restarted on November 28 after a shutdown on November 16, had throughput volumes of 582,000 bpd in December, following a slump to 298,000 bpd in November.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Canada Is Facing A Heavy Crude Crisis Canada\u2019s benchmark heavy crude oil widened its discount to WTI to the largest in six trading sessions on Thursday, as additional storage capacity in Alberta and data about lower crude-by-rail shipments added concerns over the domestic oil glut, as TransCanada\u2019s Keystone Pipeline has yet to return to normal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[1642,103,19328,470,5778,5332,14603],"class_list":["post-32469","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bitumen","tag-canada","tag-heavy-crude","tag-kinder-morgan-canada","tag-national-energy-board","tag-oilprice-com","tag-tsvetana-paraskova"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32469"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32469\/revisions"}],"predecessor-version":[{"id":32470,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/32469\/revisions\/32470"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}