Title : Update On Canadian Oil Crisis -- Oilprice -- August 10, 2018
link : Update On Canadian Oil Crisis -- Oilprice -- August 10, 2018
Update On Canadian Oil Crisis -- Oilprice -- August 10, 2018
Link here.- pipeline debacle
- Western Canada Select (WCS) recently fell below $40/bbl
- fell as low as $38/bbl earlier this week
- $31 per bbl below WTI -- the largest discount since 2013
- even as pipeline takeaway capacity has not budged, Canadian oil production continues to rise
- output could rise another 265,000-bpd in 2018; followed by another 265,000-bpd in 2019
- Line 3 expansion critical, and the pipeline project is not guaranteed to be approved/completed
- CBR: can cost as much as $20/bbl or more
- right now, the Trans Mountain will likely cost almost $2 billion more than originally thought and will take an additional year to complete, putting the start date off until late 2021
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