• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 1 day Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 2 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 1 day "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 7 hours U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 3 days An Indian Opinion on What is Going on in China
  • 12 hours Nord Stream - US/German consultations
  • 3 days Can Technology Keep Coal Plants Alive and Well?
  • 4 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 6 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 5 hours Australia sues Neoen for lack of power from its Tesla battery
  • 3 days Storage of gas cylinders
  • 4 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
Oil Markets Unfazed By Falling Imports From China

Oil Markets Unfazed By Falling Imports From China

Oil prices continued to climb…

Delta Airlines Warns Of Quickly Rising Fuel Costs

Delta Airlines Warns Of Quickly Rising Fuel Costs

Delta Air Lines Inc. delivered…

Canada’s Trade Deficit Significantly Narrows As Oil Exports Rise

Canada’s merchandise trade deficit narrowed more than expected in December, thanks to a rebound in crude oil exports in the last month of 2019 from the previous month, when a pipeline outage and a railway strike had crippled oil exports.

In December 2019, Canada’s merchandise trade deficit with the world narrowed to US$278 million (C$370 million) from US$903 million (C$1.2 billion) in November, mostly due to higher oil exports, Statistics Canada said on Wednesday.  

The December deficit was one of the smallest deficits Canada has recorded in recent years, and was also lower than expectations, according to Bloomberg.

Exports of energy products posted the largest monthly gain in December, at 9.5 percent, led by an 18-percent jump in crude oil exports, Statistics Canada said, noting that crude oil exports were low in November because of a nearly two-week outage of the Keystone oil pipeline.

At the end of October, the Keystone pipeline was shut down in the wake of a spill of more than 9,000 barrels of oil in North Dakota.  

“As the situation was resolved before the end of November, crude oil exports rebounded strongly in December,” Statistics Canada said today.  

The eight-day strike at the end of November at Canadian National, the biggest railway in Canada, also sent shockwaves through the struggling oil industry, as crude-by-rail shipments from Alberta were nearly halted during the industrial action.  

After dragging on for more than a week and threatening to erase billions of dollars from Canada’s economy, the strike ended on November 26, after the Teamsters Canada trade union and Canadian National reached a tentative agreement to renew the collective agreement for more than 3,000 conductors, trainpersons, and yard workers.

In December, Canada’s exports to the United States increased by 2.9 percent, mainly due to the rebound in crude oil exports, according to Statistics Canada. 

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News