Oil by rail shipments grow to 120,000 bpd

CALGARY — Oil shipments by rail from Western Canada to Eastern Canada and the Gulf Coast have increased by 50,000 barrels per day since last fall, according to a report.

But some of the economic justification that led to shipments growing from 70,000 bpd in the third quarter to 120,000 bpd now will evaporate over the next two years as new pipelines come on stream, says the research note from Calgary investment bank Peters & Co.

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