11/29 Closing prices / revised 11/30/2023  08:05 GMT 11/29    OPEC Basket    83.89 +0.49 | 11/29    Mezcla Mexicana de Exportación   Mexico Basket (MME)   $74.39  +1.37  | 10/31     Venezuela Basket (Merey)  $72.54  – 3.00  (Source: Economia Hoy)  | 11/29    NYMEX WTI Texas Intermediate January CLF24   $77.86 +1.45    | 11/29    ICE Brent January  BRNF24   $83.10   +1.42  | 11/29    NYMEX Gasoline December  RBZ23    $2.28   +2.4% | 11/29     NYMEX  Heating Oil  December HOZ23   $2.89  -0.6% | 11/29     Natural Gas January NGF24    $2.80 -1.2%  | 11/22    Active U.S. Rig Count (Oil & Gas)    622     +4    | 11/30     USD/MXN Mexican Peso  17.2702 (data live  | 11/30   EUR/USD    1.0954  (data live)  | 11/30    US/Bs. (Bolivar)   $35.49390000  ( data BCV)    |      

Oil Pipeline Pinch Re-Emerges in Canada, Widening Crude Discount – Bloomberg


Robert Tuttle, Bloomberg News

EnergiesNet.com 10 25 2023

Canadian oil prices are weakening relative to US grades as pipeline bottlenecks restrict shipments to refiners, just months before a massive new export line is scheduled to enter operation. 

Heavy Western Canadian Select crude in Alberta traded at a $25-a-barrel discount to US benchmark West Texas Intermediate on Tuesday, the widest since January, according to data compiled by Bloomberg. The difference was $10.20 a barrel in early July. A grade of light crude called Edmonton Mixed Sweet hit a discount of $5.65 on Monday, the widest in almost two years.

Canada’s pipelines have been forced to ration their space this year amid signs oil production is rising before the startup of the expanded Trans Mountain pipeline system next year. For November, Enbridge Inc. increased apportionment on its Mainline system, the country’s largest oil export pipeline network, to the most in about two years. 

Alberta’s total crude output rose to 3.01 million barrels a day in August, the highest since May, Alberta Energy Regulator data show. But the true output is almost certainly higher as the data has excluded output from Suncor Energy Inc., one of the largest oil-sands producers. The increased production is coming amid a heavier-than-usual refinery maintenance season in the US, which has spurred increased Canadian oil exports off the US Gulf Coast.

Bloomberg.com 10 24 2023

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com

CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

Scroll to Top