More than 1 million barrels per day (bpd) of curtailed crude oil production in Canada and lower demand in the pandemic have resulted in a rare occurrence in Canada’s pipeline takeaway capacity in recent years—there is space available on the few pipelines taking Canada’s crude oil to the United States. Canada’s persistent problem with not enough oil pipelines to carry the heavy crude oil out of Alberta to the international markets, mostly the U.S., looks solved, at least for now, “but for all the wrong reasons,” Kevin Birn, IHS Markit’s director of North American crude oil markets, told Bloomberg . According to industry analysts and officials, Canadian oil producers have curtailed crude production by more than 1 million bpd since oil prices collapsed because of the pandemic and the Saudi-Russian oil price war in March. Oil production shut-ins could reach 1.1 million bpd this summer, ATB Economics said at […]