Canadian crude exports by rail peak in April, according to the NEB

The National Energy Board states that rail crude oil exports from Canada reached a record 193,500 barrels per day in April, up 13% from the previous month . Total oil shipments broke the previous record of nearly 179,000 barrels a day in September 2014, well ahead of the 150,000 barrels per day moved in April 2017.

Rail shipments expected to continue to increase

Andrew Botterill believes that the increased use of rail will help strengthen the price of Canadian Select Western crude oil relative to the New York benchmark. West Texas Intermediate Crude Petroleum

Botterill indicates that demand for Canadian heavy oil is expected to increase as it will be needed at the US Gulf Coast refinery complex to replace declining volumes in Venezuela.

Deloit Forecasts indicate that world oil prices will decline over the next few months, as OPEC countries increase their production and international demand for oil.

"Continued decline in Venezuelan production volumes, possibility of sanctions imposed by the United States" However, it is expected that these figures will decrease in the coming months, while the members of the US OPEC increase their tariffs to fill the volumes of agreements resulting from reductions in Iranian and Venezuelan production. . "