Waterborne crude oil exports from the expanded Trans Mountain Pipeline (TMX) averaged 453 Mb/d in September 2025 (rightmost stacked columns in chart below), a gain of 24 Mb/d versus August and an increase of 143 Mb/d from a year ago based on tanker tracking data compiled by Bloomberg. September’s exports marked a second month-on-month increase but remained below the March 2025 high of 498 Mb/d. There may be an additional gain in October with media stories suggesting that export bookings off TMX increased in response to favorable pricing opportunities versus other overseas crude streams.
Featured Articles
- Analyst Insight
Waterborne Crude Oil Exports from Trans Mountain Fall in October, But Exports to China Hit Record
Total crude oil exports by tanker from the Trans Mountain Pipeline pulled back in October, but barrels headed for China reached a record.
- Analyst Insight
Trans Mountain Waterborne Crude Exports Rise to Near Record, Exports to China Soar to New High
Waterborne crude oil exports from the Trans Mountain Pipeline reached their highest level on record, while those to China punched out a new high.
- Analyst Insight
China Syndrome – Canada’s West Coast Heavy Oil Exports Fetching Greater Value Than From the U.S. Gulf Coast
Canada's heavy crude oil exports from TMX are fetching relatively stronger value than for the same crude exported from the U.S. Gulf Coast. Strong buying by China appears to be one of the drivers of the improved values.
