Canadian crude exports from the recently expanded Trans Mountain pipeline are shifting to the U.S. from Asia, showing how the major project’s effect on global oil markets remains in flux.
Andrew Botterill, energy, resources and industrials partner at Deloitte Canada , joins BNN Bloomberg to share his energy, oil and gas price forecast.
Exports by tanker to the Far East in July fell 45 per cent from a month earlier to 107,000 barrels a day, while shipments to the U.S. West Coast — mostly to California — more than tripled to 240,000 barrels a day, Vortexa ship-tracking data show. Shipments to China, the biggest Asian buyer, fell by about 36 per cent to 91,400 barrels a day.
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