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Trudeau’s Crude Pipeline Set to Provide Boost for Canadian Oil

Canadian oil producers expect better prices for crude and access to new markets in Asia with the expanded Trans Mountain pipeline starting up in 2024.

  • Expanded Trans Mountain pipeline to start up in 2024, easing pipeline constraints for Canadian oil producers.
  • Projected to reduce dependence on US refiners, allowing for better prices for crude and access to new markets in Asia.
  • Canadian Natural Resources Ltd. to ship 94,000 barrels a day on the expanded pipeline, accounting for 16% of total space.
  • Pipeline may allow oil-sands companies to boost production and benefit producers who don't ship on the line.
  • Trans Mountain expansion project will more than double the capacity of the existing line to 890,000 barrels a day.
Trudeau’s Crude Pipeline Set to Provide Boost for Canadian Oil
Canadian oil producers beset by years of constrained pipeline capacity expect to garner better prices for their crude when the expanded Trans Mountain conduit starts up next year, opening them to new markets in Asia.

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