USGC heavy crude prices may remain under pressure until Canada’s Trans Mountain expansion enters service
Record-low differentials for heavy crudes that compete on the US Gulf Coast may not rebound until the Trans Mountain pipeline expansion enters service and diverts Canadian sour barrels away from the US and toward Canada’s West Coast, traders and analysts say. The Trans Mountain expansion is expected to add an additional 590,000 b/d of takeaway capacity in late 2023 from…