In Freight News 06/05/2015
Exports of Canadian crude oil declined by a modest 57,000 b/d in February to average 3.046 million b/d, data released by the National Energy Board showed.
The drop stemmed entirely from a sharp decline in light crude exports, down 89,000 b/d from January’s record-setting levels to 938,000 b/d.
Light Canadian crude oil exports have proven somewhat more variable than heavier grades, falling six times in the past 12 months.
In contrast, heavy crude exports resumed their steady rise, increasing by 32,000 b/d to a new record-high of 2.107 million b/d, surpassing last September’s average of 2.095 million b/d.
February’s dip nonetheless left total exports above 3 million b/d for just the third time in history, and marked a 325,000 b/d increase from the same time last year. Heavy crudes accounted for 275,000 b/d of that growth, but light crudes also increased 49,000 b/d from last February.
