World· Energy

U.S. Refiners Face New Crude Squeeze as Canada Cuts Oil Sands Output

U.S. refineries have been running at full speed for months to make up for lost fuel supply from the Middle East.

By AI NewsroomPublished about 1 hour agoUpdated about 1 hour ago2 views

Why It Matters

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Key Facts

Fact 1: In September, Canadian crude oil production may drop by 300,000 barrels daily due to maintenance activities in the oil sands, Rystad Energy said this week, as quoted by Bloomberg.
Fact 2: Unfortunately, crude in storage is also lower than usual—the lowest in 12 months, per the report.
Fact 3: Normally, Canadian oil producers send 4 million barrels daily of heavy crude to U.S.
Fact 4: Venezuela exported 1.16 million barrels of crude oil daily last month, a slight decline from June’s 1.2 million barrels daily, because PDVSA withdrew less crude from storage, according to a Reuters report from earlier this month.

U.S. refineries have been running at full speed for months to make up for lost fuel supply from the Middle East.

Fuel exports from the United States have been breaking records. This may be about to change, and not because of the war. It is oil sands maintenance season in Canada.

(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)

canada have crude United States oil fuel sands maintenance refiners

Original source: OilPrice.com