America’s Oil Glut Turns Canadian Pipeline Problem on Its Head [Yahoo! Finance News]
Enbridge Inc (ENB)
Last enbridge inc earnings: 2/14 07:00 am
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Source: Yahoo! Finance News
) -- The world-wide coronavirus pandemic that’s caused oil demand to plummet has turned the Canadian oil patch’s biggest problem on its head. Rather than having too few oil pipelines, the province now has too many.The collapse in oil demand caused by people staying home has reduced U.S. demand for Canadian crude, leaving pipelines struggling to stay full. After more than a year of rationing space, Enbridge Inc. announced it had additional space on its Mainline pipeline system for both heavy and light crude in April. TC Energy Corp. also issued a call for crude on its Keystone pipeline running from Alberta to the U.S. Midwest.At the same time, the lack of a price difference for crude from Canada makes it unprofitable to ship the country’s crude down pipelines to the U.S. Midwest and Gulf Coast. Heavy Western Canadian Select oil is trading at a $14.75 discount to West Texas Intermediate crude in Hardisty, Alberta. That’s compared with about $14.90 a barrel in Cushing, Oklahoma, as of Mo
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ENB
Earnings
- 11/7/25 - Beat
ENB
Sec Filings
- 12/3/25 - Form 8-K
- 11/20/25 - Form 8-K
- 11/19/25 - Form 424B5
- ENB's page on the SEC website