Canadian crude-by-rail exports rise to record high in April, NEB reports

CALGARY — The National Energy Board says crude-by-rail exports from Canada grew to a record 193,500 barrels per day in April, up 13 per cent from the previous month, as full pipelines forced more producers to use trains to get their products to market.

The oil shipping tally beat the previous record of nearly 179,000 bpd in September 2014 and was well ahead of the 150,000 bpd moved in April 2017.

Andrew Botterill, a partner with accounting firm Deloitte, says he expects rail shipments will continue to grow this year.

He says the increased use of rail will allow prices for Western Canadian Select bitumen-blend crude oil to strengthen as compared with New York benchmark West Texas Intermediate crude.

Botterill says demand for Canadian heavy oil is expected to increase as it will be needed in the U.S. Gulf Coast refining complex to replace shrinking volumes from Venezuela.

Deloitte forecasts global oil prices will fall back from recent three-year highs in the coming months as OPEC countries increase output and international demand for oil declines.

“Continuous decreases in Venezuelan production volumes, the possibility of sanctions enforced by the United States on Iran, and decreased oil stockpile volumes have escalated global oil prices,” the report says.

“However, these are expected to recede in coming months as OPEC members increase rates to fill void agreement volumes resulting from Iranian and Venezuelan production cuts.”

Just Posted

Trump-Putin summit opens without talk of election meddling

HELSINKI — With a wink and a slouch, respectively, President Donald Trump… Continue reading

Ultra-light helicopter pilot killed in crash near High River

Police say the pilot of an ultra-light helicopter is dead after crashing… Continue reading

Heat warning in effect for Central Alberta

Environment Canada has issued a heat warning for Central Alberta. Residents in… Continue reading

Westerner Days parade set for Wednesday in downtown Red Deer

Over 30,000 people are expected to line up the streets of downtown… Continue reading

Storm rips through Central Alberta

Hail pelts region causing damage to farmland, plus communities in Ponoka, Bashaw and Stettler

CFIA inspects after video shows pigs crammed into B.C. transport truck

The video shows pigs piled on top of one another in a transport truck on a “sweltering” hot day last week

Croatia gears up to give heroes’ welcome to World Cup team

ZAGREB, Croatia — Fans are pouring in from throughout the country as… Continue reading

Statelessness a hurdle for some rescued Thai boy

MAE SAI, Thailand — The 12 boys and coach of the Wild… Continue reading

Lobbying commissioner rejects complaints against firearms panel member

OTTAWA — A federal watchdog has dismissed complaints that a mass-shooting survivor… Continue reading

CREA reports June home sales down 10.7% from year ago, but up from May

OTTAWA — The Canadian Real Estate Association says the number of homes… Continue reading

Red Deer Royals place second at Calgary Stampede parade

Royals depicted life in forest and portrayed destruction by human beings

Muslim candidates running in record numbers face backlash

SPRINGFIELD, Mass. — A liberal woman of colour with zero name recognition… Continue reading

Former UK Cabinet secretary seeks new Brexit referendum

LONDON — A former U.K. Cabinet minister from the ruling Conservative Party… Continue reading

Man killed by Chicago police ran away, reached for waist

CHICAGO — A man killed by Chicago police had a gun in… Continue reading

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month