While even the most likely new pipeline to ship more of Alberta’s crude oil to refining and export markets—Enbridge’s Line 3 replacement—is nearly a year away at the earliest, the province hosting most of Canada’s oil production has been desperately seeking other ways to get more value for its natural resources. Alberta is looking to boost the crude-by-rail capacity to transport an additional 120,000 bpd of its oil over the next three years. In the most drastic measure yet, the province mandated an oil production cut of 325,000 bpd for three months starting January 2019, to clear the current glut and lift record-low Canadian heavy oil prices. Alberta is also looking to another solution to alleviate the crude oil glut—having a new oil refinery built in the province that would absorb part of the crude and unlock some space on congested pipelines shipping oil out of the province. Analysts, […]