November 10, 2018 – Wall Street Journal
Canada’s Crude Problem: Lots of Oil With Nowhere to Go
Trapped in the country, Canadian oil has never been cheaper compared with U.S. prices
By Stephanie Yang and Vipal Monga
Canada, the world’s fourth-largest producer of crude oil, missed out on a recent global recovery in energy prices, and is now taking it on the chin as prices fall.
Crude prices in Canada briefly dropped below $16 a barrel on Friday, after a U.S. federal judge blocked construction of a key pipeline needed to transport oil from Alberta to Nebraska…
Read the full article here: https://www.wsj.com/articles/canadas-crude-problem-lots-of-oil-with-nowhere-to-go-1541865600
…Many producers ramped up crude output as prices rose, only to find that the infrastructure needed to move it couldn’t keep up.
“If everybody grows, then everybody needs a new pipeline,” said Rusty Braziel, a former trader and principal consultant at RBN Energy LLC. “Growth has just come on so much more quickly than most people were predicting.”
