Canadian crude falls amid export constraints

摘要

Benchmark Western Canadian Select (WCS) price levels are the lowest since late 2013 amid export constraints that have kept supplies from reaching key markets. Enbridge notified shippers on 11 December that mid-month apportionment of 5pc would be put in place for December. The added Enbridge restrictions come on the heels of Trans-Canada’s 590,000 b/d Keystone outage on 16 November and the resulting glut of crude with which market participants continue to grapple. The export pipeline that transports primarily heavy crude was taken off line for 12 days, contributing to a backlog of crude at hubs in Alberta.