Crude-by-rail shipments jumped in last half of 2023 as Alberta’s oil output grows

By The Canadian Press on February 26, 2024.

CALGARY – New data from the Canada Energy Regulator shows Canadian crude-by-rail shipments nearly doubled in volume in the last six months of 2023.

Oil-by-rail export volumes jumped from 78,747 barrels per day in May of last year to 157,142 in December.

For the full year 2023, Canadian crude-by-rail exports averaged 119,077 barrels per day, a seven-year low and down 17 per cent from 2022.

But the sharp uptick in the last half of the year shows the impact of surging oil output in Alberta that has filled Canada’s oil export pipelines close to capacity.

Alberta’s crude oil production hit an all-time record in 2023, totalling just under 1.4 billion barrels last year or about 3.73 million barrels per day.

Oilsands companies have been ramping up to prepare for the opening of the Trans Mountain pipeline expansion, which will add an additional 590,000 barrels per day of export capacity, but the project has encountered numerous delays and construction difficulties.

.This report by The Canadian Press was first published Feb. 26, 2024.

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