Robert Tuttle

Government, Business, Fuel, Logistics

Chinese Revival Draws Rare Shipments of Alaskan, Canadian Oil

A Canadian Pacific Rail locomotive pulls oil tankers past a refinery in Burnaby, British Columbia, in September 2018. A Canadian Pacific Rail locomotive pulls oil tankers past a refinery in Burnaby, British Columbia, in September 2018. (Darryl Dyck/Bloomberg News)

Canadian and Alaskan crude that normally travels to the U.S. West Coast is finding a market in China, where demand is almost back to pre-pandemic levels.

Robert Tuttle | Bloomberg News
May 20, 2020
Government, Business, Fuel

Oil Drops to 18-Year Low on Record Demand Collapse

Pipelines run near oil storage tanks in Cushing, Okla., in 2015. Pipelines run near oil storage tanks in Cushing, Okla., in 2015. (Daniel Acker/Bloomberg News)

Oil plunged to the lowest in two decades amid a record collapse in U.S. fuel demand and the biggest-ever weekly build in domestic crude supplies.

Robert Tuttle | Bloomberg News
April 15, 2020
Government, Business, Fuel

Canadian Crude Now Costs More to Ship Than to Buy

Water is pumped into a tailings pond at the Suncor Energy Steepbank mine in Fort McMurray, Alberta, in September 2018. Water is pumped into a tailings pond at the Suncor Energy Steepbank mine in Fort McMurray, Alberta, in September 2018. (Ben Nelms/Bloomberg News)

Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations.

Robert Tuttle | Bloomberg News
March 27, 2020
Government, Business, Fuel

Canadian Oil Prices Bounce Back From One-Year Low

Jason Kenney, United Conservative Party leader and Premier-Designate, delivers a victory speech in April 2019. Jason Kenney, United Conservative Party leader and Premier-Designate, delivers a victory speech in April 2019. (Chris Bolin/Bloomberg News)

Canadian crude rebounded from a one-year low after inventories fell and Alberta’s premier pledged to defend prices.

Robert Tuttle | Bloomberg News
January 29, 2020
Government, Business, Fuel, Logistics

Canadian Crude-by-Rail Shipments to Surge, Spurring Investment

Canadian National Railway Co. Western Canadian rail loadings had already climbed as high as 411,000 barrels a day in November despite a weeklong Canadian National Railway strike that disrupted shipments. Now they’re set to reach 550,000 barrels a day. (Brent Lewin/Bloomberg News)

Canadian shipments of crude by rail are poised to surge next year, spurring investment in new export infrastructure.

Robert Tuttle | Bloomberg News
December 19, 2019
Government, Business, Fuel

Pipelines Add Room on ‘Unrelenting’ Demand for Canada’s Oil

Oil Simon Dawson/Bloomberg News

U.S. refiners want more Canadian oil, and pipeline companies are finding ways to get it to them. Companies are adding space to their congested oil export pipelines from Canada even as plans for bigger expansions and new lines face delays.

Robert Tuttle | Bloomberg News
August 2, 2019
Business, Fuel, Logistics

Railcar Loads for Canadian Oil Hit Record Amid Pipeline Bottleneck

Railroad tracks James MacDonald/Bloomberg News

Heavy Canadian crude isn’t getting cheaper, but that hasn’t stopped companies from splurging on costly rail shipments.

Robert Tuttle | Bloomberg News
January 24, 2019
Government, Business, Fuel

Canadian Producers Turn to Oil Trucks as Supply Glut Grows

Tanker Truck Randy L. Rasmussen/Associated Press

Tanker trucks laden with oil are journeying almost 500 miles to pipeline and rail terminals. It’s a phenomenon that Ken Boettcher, president of Three Star Trucking Ltd. in Alida, Saskatchewan, started to see three or four months ago when oil shippers around Kindersley, near the Alberta border, began requesting trucks to move their crude, in some cases, as far south as North Dakota.

Robert Tuttle | Bloomberg News
October 31, 2018
Business, Safety, Fuel

Fort Hills Mine Signals Path for Oil-Sands Revival in Alberta

Fort Hills Williams speaks during a grand opening event for the Suncor Fort Hills oil-sands extraction site near Fort McKay, Alberta. (Ben Nelms/Bloomberg News)

A colossal Canadian oil-sands project may be showing the way forward for an industry many thought would never see new investments.

Robert Tuttle | Bloomberg News
September 11, 2018
Government, Business, Fuel

Shipping-Fuel Rule Change Cuts Demand for Canadian Oil

TransCanada's Hardisty Terminal 1 TransCanada's Hardisty Terminal 1. (Brett Gundlock/Bloomberg)

New rules limiting the amount of sulfur allowed in shipping fuel is expected to cut demand for high-sulfur fuel oil and the sour crude that yields it. In Canada, that could extend — or worsen — the biggest price slump in nearly five years.

Robert Tuttle | Bloomberg News
August 14, 2018

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