Weekly Canadian refinery crude oil runs saw a dip in July, but had since recovered (see red line in left chart below), according to weekly data through August 4 released by the Canadian Energy Regulator on August 25. The drop in utilization was in Ontario (see red line in right chart below) and likely reflects unplanned downtime at the Nanticoke refinery noted by Imperial Oil on its Q2 conference call.
Featured Articles
- Analyst Insight
Q2 2026 Earnings Calls: Imperial Oil Highlights Potential to Double Production
The highlight of Imperial Oil’s second quarter conference call on July 31 was the CEO touting the company’s potential to double its operated production, which is almost entirely from the Alberta oil sands, if there is a supportive fiscal and regulatory framework.
- Blog
Start Me Up – As Venezuela Ramps Up Crude Oil Output, More Barrels Reaching U.S. Refiners
The early signs of a rebound can be seen in Venezuela, where crude oil production and exports are on the rise, although plenty of unknowns remain. Today, we look at how much Venezuelan crude is reaching the U.S., how the U.S. import slate has changed, and preview our latest Drill Down Report.
- Blog
The Long Road – U.S. Oil Deals Have Venezuela Poised for Long-Term Growth, But It’s Far from Certain
Venezuela’s oil industry spent more than a decade moving in the wrong direction, but 2026 has brought a notable change. Today, we look at the improvements in production and exports in light of Venezuela’s sweeping new deal with the U.S. and also address the prospects for the refining sector.
