CALGARY – New figures compiled by the National Energy Board show a sharp decline in the amount of crude exported by rail so far this year.
Nearly 84,000 barrels a day moved south of the border on trains in the second quarter.
The email you need for the day's
top news stories from Canada and around the world.
But that’s about 30 per cent less than the nearly 120,000 barrels a day that were exported by rail in the first quarter.
It’s an even sharper drop from the roughly 159,000 barrels a day in the last three months of 2014.
The plunge in crude-by-rail exports comes amid a severe weakening in crude prices from above US$107 a barrel around the middle of last year to roughly US$40 now.
Rail is a more expensive mode of transport than pipelines.
Comments