Enbridge is buying Tallgrass Energy's crude oil transportation business for $2.55 billion. The deal includes a 75% stake in the 1,050-mile Pony Express Pipeline system, which connects oil production in the Rockies to Cushing and provides access to about 500 Mb/d of refining capacity.
Today, we look at why high crack spreads don’t necessarily increase a refinery’s output, how market disruptions elsewhere can drain U.S. inventories, and the indicators that will help tell us whether the diesel squeeze is easing (or worsening).
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.
The oil pipelines from the Permian to Corpus Christi have been very crowded, but two recent expansion projects are adding nearly 200 Mb/d of capacity to Corpus Christi, providing a bit of breathing room. Gray Oak wrapped up a two-part 120 Mb/d expansion in May, and Plains All American completed its 75 Mb/d expansion of Cactus III (formerly EPIC), which just went into service in August.
Alberta crude oil and condensate production for July averaged 4.762 MMb/d, up 271 Mb/d or 6% vs. June, and up 116 Mb/d compared the prior July record of 4.646 MMb/d set last year, according to data released by the Alberta Energy Regulator on August 31.
Enbridge is buying Salt Creek Midstream’s crude-oil gathering business for $600 million, which includes full ownership of the Orla and Wink North systems and a 50% interest in Delaware Crossing. Today, we’ll discuss how the deal strengthens Enbridge’s link between Permian production and export markets.
The Trans Mountain pipeline's owner Trans Mountain Corporation said in its Q2 results press release on August 28 that it expects to increase the pipeline's "nominal system capacity by approximately 90,000 bpd by the end of 2026".
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.
For many, 2026 will be remembered as the year that diesel cracks topped the century mark ($100/bbl) for the first time, surpassing even the post-COVID boom year of 2022. Today, we examine the various factors driving this run-up and what they reveal about the broader physical refined products market.
U.S. rules around decommissioning offshore oil and gas platforms were rewritten in 2024, but the Trump administration paused their implementation in 2025. Today, we examine the proposed revisions, which aim to reduce regulatory costs without shifting decommissioning liabilities to taxpayers.
