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See the entire North American crude landscape
The North American crude market landscape is constantly evolving as the industry works to handle supply and demand changes. US and Canadian markets are increasingly relevant on the global stage as regional supply, midstream infrastructure, and export capacity tie North America to international markets.
Be informed on how upstream, midstream or downstream changes may constrain or de-bottleneck the supply chain.
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Make more informed decisions with a snapshot of the most important data related to key crude hubs such as Cushing, the US Gulf Coast, West Texas and Western Canada.
Access first-hand market commentary highlighting trends, anomalies and fundamentals in the market. Our data also provides a comparison of regional fundamentals and an evaluation of how changes impact the entire market.
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Weekly updates and commentary
Be aware of factors driving the North American oil markets. Receive weekly updates on oil storage, pipelines, refinery operations, waterborne and rail transport, and commentary highlighting fundamentals and market trends.
Crucial data for informed decisions
Get a weekly snapshot of the most important data related to key crude hubs including Cushing, the US Gulf Coast, West Texas and Western Canada.
Our report includes data-driven commentary, which discusses pipeline flows, storage data, rail volumes, waterborne loading data and refinery capacity utilisation data across key hubs in North America.
North America Crude Markets short-term outlook: December 2023
The Canadian crude egress bottleneck has returned…. again. Fundamentals across the board point to egress constraints in Western Canada. Canadian supply ticked higher in recent months as maintenance wrapped up and as producers boosted output ahead of TMX’s anticipated start-up. This drove WCSB long-haul pipelines to operate near maximum utilization in November. Effects of the bottleneck are already being seen in heavy price discounting, inventory builds, and higher crude-by-rail loadings. Now, a recent regulatory denial is expected to cause further delays to TMX’s construction timeline. A later start-up threatens to prolong egress constraint conditions in Western Canada until the new system comes online. In this report, we provide our updated expectations for TMX timeline and discuss our forecasts for pipeline utilization and price differentials regarding the adjusted schedule.
This report contains:
North American Crude Market December 2023 Short Term Outlook Slidepack.pdf
WCSB Supply & Diluent Outlook December 2023.xlsx
North America Crude Midstream Outlook December 2023.xlsx
North America Crude Supply & Pricing December 2023.xlsx