oil prices

oil prices

Source: Changes to pipeline exports, rail loadings, and storage were calculated from Genscape weekly data. Changes to refinery runs were calculated from CER weekly refinery-run data

Description: This chart shows implied supply changes in the Western Canada Sedimentary Basin, and decreasing crude-by-rail loadings, pipeline exports, and refinery runs in western Canada, whose total was about zero in 13 March 2020 before growing to about -725 000 b/d by 5 June 2020. This chart also shows that large amounts of oil was being injected into storage from 13 March 2020 to 1 May 2020, and has been withdrawn from storage since. Total implied supply changes peaked at -972 000 b/d during the week of 15 May 2020, and have fallen to -713 000 b/d by the week of 12 June 2020.

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