Calgary Stampede On Hold

16 Jun 2017: The Canadian oil industry has been hit hard by the combination of rising shale oil production in the U.S. (by far Canada’s largest customer) and falling oil prices.  While these challenges have not had a significant impact on Canadian crude oil production to date, it will start to slow the growth of crude oil supply after 2020.  In their latest annual crude oil forecast, published last week, the Canadian Association of Petroleum Producers summarizes it best: “The success of Canada’s energy future relies on the ability to overcome these challenges, including low commodity prices, pipeline capacity, industry competitiveness, regulatory uncertainty and access to new markets.”  In this week’s Tanker Opinion we will focus on those developments that will have the biggest potential impact on the international tanker markets.

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