Canada plans to boost its crude oil exports as Western importers turn away from Russian crude.
The country could increase oil exports by some 200,000 bpd from current rates, the Canadian minister of natural resources said this week, as quoted by Bloomberg. It could also boost natural gas exports by the equivalent of 100,000 barrels daily, both by the end of the year.
"Both our liquids and natural gas systems are at or near capacity but we're exploring options that may be taken to provide more energy to the U.S. and Europe. That includes using export facilities on the Gulf Coast for crude and natural gas," Wilkinson explained two weeks ago.
Canada is currently exporting crude oil to the United States at record rates. From the Gulf Coast, Canadian crude heads for other markets. Last year, the rate of Canadian oil exports from the Gulf Coast reached 180,000 bpd.
LET'S GO ATH !