The price of Canadian crude, already discounted, hit another headwind as Enbridge moves to ration space on its mainline pipeline. Read on.
Enbridge will apportion space on a segment of its Mainline system by the most since November last year, the Calgary-based company said in a statement Friday. Apportionment is when shippers reduce volume when they see too much demand on a system, and has contributed to a glut of supply in the past as producers are left with the excess.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
The rise in apportionment signals that export lines may be filling up again amid record oil production in the province and rising demand for Canadian crude on the U.S. Gulf Coast.
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