Crude-oil exports to Canada provided a crucial relief valve for U.S. producers this year, according to a new report from data provider Genscape Inc. Almost 19 million barrels were shipped from the U.S. Gulf Coast to Canada’s eastern coast from the beginning of the year through early May, according to Genscape. Without those shipments, storage terminals in Corpus Christi, Texas, would have run out of capacity by now, according to the report, which is slated to be released on Wednesday. Though federal law prohibits exports of most U.S. crude oil, there is an exception for shipments to Canada. As production in the U.S. and in Canada has increased in recent years, more oil has criss-crossed the border, allowing both countries to import less crude oil from outside North America. Growing U.S. oil output has raised concerns among traders that some storage locations could reach full capacity. If an area […]