Canada’s Oil Pipeline Problem May Be Over

Canada’s Oil Pipeline Problem May Be Over
(Angeline Cheek via AP)

The shortage of pipeline space that has hamstrung Canada’s oil producers for years may finally be over -- just not in the way they had hoped.

The pandemic-induced oil crash prompted Canadian companies to cut about 1 million barrels of daily crude output, freeing up space on the country’s previously congested pipelines. With that production likely slow to return and as many as three new conduits slated to be built in the next three years, the industry may have years of cheap, plentiful shipping capacity ahead.

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