The Keystone Oil Spill Effect

Friday November 8, 2019 1. Keystone outage boosts Bakken- The Keystone pipeline is offline because of a significant spill in North Dakota, interrupting around 590,000 bpd of throughput. The outage has depressed prices for Western Canada Select, with the discount to WTI widening to as much as $23 per barrel. – But the outage has also pushed up prices for Bakken oil, providing a temporary boost to Bakken drillers. – Meanwhile, rail shipments are expected to rise quickly. “We are expecting crude-by-rail volumes into the south to rise as the…