Potential Canadian railroad labor dispute may not significantly impact US oil imports from Canada.

A potential labor dispute at Canada's major railroads, CN Railway and Canadian Pacific Kansas City, may not significantly impact oil exports to the US due to excess capacity on Trans Mountain and other pipelines, helping to limit discounting for Canadian crude. US imports of Canadian crude averaged 55,000 barrels per day in May, with the U.S. importing 4.2 million barrels per day from Canada via pipelines. Analysts say excess pipeline capacity should mitigate the impact of the rail dispute on oil exports.

August 19, 2024
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