Canadian Oil Producers Eye Big Boost With Trans Mountain Extension

Canadian oil sands producers are in a rush to boost production as the Trans Mountain expansion comes online, providing an additional 590,000 bpd in capacity. Bloomberg reports that Canadian Natural Resources and Cenovus are among the producers planning on output boosts in the coming months. Canadian Natural Resources plans to increase production by some 40,000 bpd in the current quarter, while Cenovus will take longer, starting a new production site in 2025. “This industry has a great habit of expanding to fill pipeline capacity,”…