Canadian Oil Pipeline Congestion Sets Up Lucrative Storage Play

Credit: Wochit News
Published on June 9, 2019 - Duration: 00:32s

Canadian Oil Pipeline Congestion Sets Up Lucrative Storage Play

According to Reuters, upheavals in the Canadian crude market are providing unique opportunities for firms with sizeable long-term leases on Alberta storage tanks.

Canada holds the worldโ€™s third-largest crude reserves, but years of delay in building new pipelines has led to oil production outpacing takeaway capacity.

According to energy information provider Genscape, even with the Alberta cuts, oil inventories in western Canada hit a record 37.1 million barrels in April.

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Canadian Oil Pipeline Congestion Sets Up Lucrative Storage Play

JUNE 29, 2018 FILE PHOTO

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